S.D. Admin. R. 20:14:15:01

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

Section 20:14:15:01 - Eligibility requirements

To be eligible to enroll in the appraiser experience training program the candidate must:

(1) Possess a registered trainee appraiser credential, in good standing, which includes completing the educational requirements specified in § 20:14:05:06.01 and completing the education program course, including the course examination, for registered trainee appraisers specified in § 20:14:05:06.02; and

(2) Prior to enrollment, successfully complete the following hours of approved appraiser training based upon the credential being sought:

(a) For candidates seeking the state-licensed or state-certified residential appraiser credential, the candidate must complete 60 hours of approved residential appraiser education in the areas of:

(i) Residential market analysis and highest and best use - 15 hours;

(ii) Residential appraiser site valuation and cost approach - 15 hours; and

(iii) Residential sales comparison and income approaches - 30 hours.

(b) For candidates seeking the state-certified general appraiser credential, the candidate must complete 150 hours of approved general appraiser education in the areas of:

(i) General market analysis and highest and best use - 30 hours;

(ii) General sales comparison approach - 30 hours;

(iii) General income approach - 60 hours; and

(iv) General site valuation and cost approach - 30 hours.

S.D. Admin. R. 20:14:15:01

49 SDR 025, effective 9/18/2022; 49 SDR 048, effective 11/22/2022

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

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