S.D. Admin. R. 20:77:01:01
"Appraisal management services," is the act or process to (a) recruit, select, and retain appraisers; (b) contract with licensed or certified appraisers to perform appraisal assignments; and (c) manage the process of having an appraisal performed.
Appraisal management services includes administrative duties such as receiving appraisal orders and appraisal reports; submitting completed appraisal reports to creditors and underwriters; collecting fees from creditors and underwriters for services provided; and reimbursing appraisers for services performed. It also includes the review and verification of the work of appraisers for compliance with the Uniform Standards of Professional Appraisal Practice.
S.D. Admin. R. 20:77:01:01
General Authority: SDCL 36-21D-4.
Law Implemented: SDCL 36-21D-1, 36-21D-2, 36-21D-4(2).