S.D. Admin. R. 20:36:01:01

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

Section 20:36:01:01 - Terms defined

Terms used in this article mean:

(1) "Abstract," a compilation in orderly arrangement of the materials and facts of record affecting the title to a specific piece of land, issued under a certificate certifying to the matters contained in such compilation;

(2) "Abstracter," a person, firm, or corporation holding a certificate of registration from the Abstracters' Board of Examiners of the state of South Dakota;

(3) "Abstracting," the abstracting and reporting upon public or other records under the provisions of SDCL 36-13;

(4) "Board," the Abstracters' Board of Examiners of the state of South Dakota;

(5) "Plant," the books, records, and indexes required by SDCL 36-13-10 and this article;

(6) "Seal," the seal of the Abstracters' Board of Examiners or the seal of an abstracter as the context may indicate;

(7) "Search," the process of examining all relevant records to document the legal owner of the property, including any liens and other claims on the real property, and any type of summary of facts of record affecting the title to a specific piece of land that does not purport to constitute an opinion as to the state of the title. The term does not include a title insurance commitment or policy or information or opinions given;

(8) "Executive Secretary," the executive secretary of the board; an executive secretary who shall supervise the administrative activities of the board.

(9) "Secretary-treasurer," the secretary-treasurer of the board.

S.D. Admin. R. 20:36:01:01

SL 1975, ch 16, §1; 12 SDR 151, 12 SDR 155, effective 7/1/1986; 34 SDR 73, effective 9/17/2007; 46 SDR 042, effective 10/3/2019

General Authority: SDCL 36-13-6

Law Implemented: SDCL 36-13-6.