S.D. Admin. R. 20:14:08:02
Current through Register Vol. 50, page 162, June 24, 2024
If the only qualified persons available to perform an appraisal are involved in the lending, investment, or collection functions of the regulated institution, the regulated institution shall take steps to ensure that the appraisers exercise independent judgment and that the appraisal meets required standards. Such steps include prohibiting an individual from performing appraisals in which the appraiser is otherwise involved and prohibiting directors and officers from participating in any vote or approval involving assets on which they performed an appraisal.
S.D. Admin. R. 20:14:08:02
General Authority: SDCL 36-21B-3.
Law Implemented: SDCL 36-21B-1, 36-21B-3(13)(16).