S.D. Admin. R. 20:14:08:01

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:14:08:01 - Staff appraiser independence required

If an appraisal is prepared by a staff appraiser who is an employee of a financial institution, that appraiser must be independent of the lending, investment, and collection functions and not involved, except as an appraiser, in the transaction. The appraiser may have no direct or indirect interest, financial or otherwise, in the property.

S.D. Admin. R. 20:14:08:01

18 SDR 36, effective 8/25/1991; 22 SDR 91, effective 1/1/1996.

General Authority: SDCL 36-21B-3.

Law Implemented: SDCL 36-21B-1, 36-21B-3(13)(16).