S.D. Admin. R. 20:77:01:03

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

Section 20:77:01:03 - Controlling person

A "controlling person," is one or more of the following:

(1) An officer or director of an appraisal management company, or an individual that holds 10% or greater ownership interest in an appraisal management company;

(2) An individual employed, appointed, or authorized by an appraisal management company that has the authority to enter into a contractual relationship with clients for performance of appraisal services and that has the authority to enter into agreements with independent appraisers for the completion of appraisals; or

(3) An individual who possesses the power to direct or cause the direction of the management or policies of an appraisal management company.

S.D. Admin. R. 20:77:01:03

38 SDR 40, effective 9/20/2011.

General Authority: SDCL 36-21D-4.

Law Implemented: SDCL 36-21D-4(2).