S.D. Admin. R. 20:14:07:01
A real estate appraiser shall retain originals or true copies of all written contracts engaging the appraiser's services for real estate appraisal work and all written reports, all other data, information, documentation, and supporting data assembled and formulated by the appraiser in preparing the reports for five years. The five-year period for retention of the records is applicable to each engagement of the services of the appraiser and begins on the date of the submittal of the appraisal to the client. However, if, within the five-year period, the appraiser is notified that the appraisal or report is involved in an investigation, litigation, or state or federal review, the five-year period for the retention of the records begins on the date of the final disposition of that investigation, litigation, or state or federal review.
S.D. Admin. R. 20:14:07:01
General Authority: SDCL 36-21B-3.
Law Implemented: SDCL 36-21B-1, 36-21B-3(15).