<html> <head> <title>Rule 20:14:04:04 Appraisal not required.</title> <META NAME="Keywords" Content="Administrative Rules 20:14:04:04"> <META NAME="Description" Content="Administrative Rules 20:14:04:04 Appraisal not required."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 15 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;} @font-face {font-family:Times; panose-1:2 2 6 3 5 4 5 2 3 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:10.0pt; font-family:"Times",serif;} a:link, span.MsoHyperlink {color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {color:purple; text-decoration:underline;} .MsoChpDefault {font-size:10.0pt;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=WordSection1> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:14:04:04.&nbsp;&nbsp;Appraisal not required.</b> To determine whether or not an appraisal is needed under this article in connection with a </span><span style='font-size:12.0pt;font-family: "Times New Roman",serif'>real estate-</span><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>related</span><span style='font-size:12.0pt; font-family:"Times New Roman",serif'> financial</span><span style='font-size: 12.0pt;font-family:"Times New Roman",serif'> transaction, a financial institution shall comply with</span><span style='font-size:12.0pt;font-family: "Times New Roman",serif'> the guidelines and</span><span style='font-size:12.0pt; font-family:"Times New Roman",serif'> the threshold levels set by the federal financial institutions regulatory agencies, as applicable. Threshold levels are specified in &#167;&nbsp;20:14:04:05.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 18 SDR 36, effective August 25, 1991; 23 SDR 113, effective January 12, 1997</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>; 47 SDR 71, effective December 14, 2020</span><span style='font-size:12.0pt;font-family: "Times New Roman",serif'>.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21B-3">36-21B-3</A></span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>(8)</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21B-1">36-21B-1</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21B-3">36-21B-3(8).</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> </div> </body> </html>