S.D. Admin. R. 20:69:16:04

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

Section 20:69:16:04 - Appointed agent disclosure

The appointed agent disclosure shall include, at a minimum, the following provisions:

(1) The name of any appointed agent;

(2) A statement that the appointed agent will represent the client as the client's agent and will owe the client duties as set forth in SDCL 36-21A-132 and 36-21A-133;

(3) A statement that the brokerage may represent both the seller and the buyer in connection with the sale or purchase of real estate;

(4) A statement that another affiliated licensee may be appointed during the term of the agency agreement if the appointed agent is not able to fulfill the terms of the agency agreement or if the responsible broker and the client agree. An appointment of another affiliated licensee or an additional affiliated licensee does not relieve the first appointed agent of any duties owed to the client; and

(5) A provision for the client to consent or not consent in writing to the agreement.

S.D. Admin. R. 20:69:16:04

32 SDR 53, effective 10/11/2005.

General Authority: SDCL 36-21A-141.1, 36-21A-147.

Law Implemented: SDCL 36-21A-141.1, 36-21A-147.