<html> <head> <title>Rule 20:14:04:05 Threshold levels.</title> <META NAME="Keywords" Content="Administrative Rules 20:14:04:05"> <META NAME="Description" Content="Administrative Rules 20:14:04:05 Threshold levels."> <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:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin-top:0in; margin-right:0in; margin-bottom:10.0pt; margin-left:0in; line-height:115%; font-size:11.0pt; font-family:"Calibri",sans-serif;} a:link, span.MsoHyperlink {color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {color:purple; text-decoration:underline;} .MsoChpDefault {font-size:10.0pt; font-family:"Calibri",sans-serif;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=WordSection1> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:14:04:05.&nbsp;&nbsp;Threshold levels.</b> Each federal financial institution's regulatory agency may establish a threshold level at or below which a certified or licensed appraiser is not required to perform appraisals in connection with </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'> transactions. </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>The threshold levels established by each federal financial institution's regulatory agency</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> are as follows:</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;National Credit Union Administration, </span><span style='font-size:12.0pt;font-family: "Times New Roman",serif'>12 CFR &#167;&nbsp;722.3 (April 30, 2020)</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>;</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;OCC, 12 C.F.R. &#167;&nbsp;34.43 (</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>April 17, 2020</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>);</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;FDIC, 12 C.F.R. &#167;&nbsp;323.3</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>(</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>April 17, 2020</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>);</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;Fed, 12 C.F.R. &#167;&nbsp;225.63 (</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>April 17, 2020</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>).</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;</span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><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; 21 SDR 49, effective September 18, 1994; 23 SDR 113, effective January 12, 1997; 26 SDR 120, effective March 27, 2000; 29 SDR 99, effective January 15, 2003; 36 SDR 112, effective January 11, 2010; 38 SDR 116, effective January 10, 2012; 41 SDR 217, effective June 29, 2015</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='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><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(8).</A></span></p> <p class=MsoNormal style='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><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='margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;line-height:normal'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>&nbsp;</span></p> </div> </body> </html>