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

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

Section 20:77:03:01 - Application for registration

An appraisal management company desiring to provide appraisal management services in South Dakota shall apply in writing for a certificate of registration on a form approved by the secretary. An application is valid for 90 days. The secretary may extend the time for an application upon the written request of the applicant or to allow the applicant reasonable time to comply with the department's request for information or records. The registration fee prescribed in § 20:77:04:01 must contain the following:

(1) Legal name and any trade or business name of the appraisal management company;

(2) Business contact information;

(3) Name and contact information of the designated officer and all other controlling persons;

(4) Name and contact information for any owner who has had an appraiser license or certificate refused, denied, cancelled, surrendered in lieu of revocation, revoked in any state for substantive cause;

(5) Name and contact information for any person who owns more than ten percent of the appraisal management company;

(6) A signed irrevocable Uniform Consent to Service of Process;

(7) Name and contact information of each individual authorized by the appraisal management company to contract with clients or independent appraisers for performance of appraisals; and

(8) A sworn declaration signed by the applicant.

Contact information includes, but is not limited to: mailing and physical address, telephone and facsimile number, email, and website address.

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

38 SDR 40, effective 9/20/2011; 45 SDR 045, effective 10/8/2018; 46 SDR 029, effective 9/5/2019; 49 SDR 025, effective 9/18/2022

General Authority: SDCL 36-21D-4(1)(4).

Law Implemented: SDCL 36-21D-1, 36-21D-4(1)(4).