S.D. Admin. R. 20:69:16:05
An appointed agent may disclose to the brokerage's responsible broker or designated broker confidential information of a client for the purpose of seeking advice or assistance for the benefit of the client in regard to a possible transaction, or to comply with the broker's supervisory duties. Confidential information shall be treated as such by the responsible broker or designated broker and may not be disclosed unless otherwise required by statute or rule or requested or permitted in writing by the client who originally disclosed the confidential information.
If a responsible broker appoints an agent and the appointed agent also acts in a supervisory capacity under the responsible broker, such as a branch manager or sales manager, the appointed agent may be treated in the same manner as the responsible broker for purposes of determining limited agency only if the responsible broker authorizes and provides for such supervisory positions in the written policy.
S.D. Admin. R. 20:69:16:05
General Authority: SDCL 36-21A-141.1.
Law Implemented: SDCL 36-21A-141.1.