S.D. Admin. R. 20:14:05:05

Current through Register Vol. 50, page 162, June 24, 2024

Section 20:14:05:05 - Acceptable experience

The following are acceptable as appraisal experience:

(1) Appraisal;

(2) Appraisal review;

(3) Appraisal consulting; and

(4) Mass appraisal.

For a real estate lending officer or a real estate broker the actual performance of a real estate appraisal and a professional review of a real estate appraisal, are acceptable as appraisal experience.

An appraisal does not require a client to be accepted as an appraisal experience. A person gaining experience may perform an appraisal on property where the resulting appraisal report does not have a client who will use the report for any type of business purpose.

S.D. Admin. R. 20:14:05:05

18 SDR 36, effective 8/25/1991; 24 SDR 91, effective 1/8/1998; 32 SDR 109, effective 12/27/2005; 32 SDR 109, adopted December 7, 2005, effective 1/1/2008; 35 SDR 175, effective 1/1/2009; 40 SDR 121, effective 1/7/2014; 44 SDR 27, effective 8/14/2017; 49 SDR 025, effective 9/18/2022

General Authority: SDCL 36-21B-3(7)(17).

Law Implemented: SDCL 36-21B-1, 36-21B-3(7)(17)

Note: An appraisal without a client is comparable to a demonstration report where the goal is to demonstrate competency.

Registration of supervisory appraiser by registered trainee appraiser, § 20:14:04:12.01. Responsibilities of supervisory appraiser, § 20:14:04:17.