<html> <head> <title>Rule 20:14:08:01 Staff appraiser independence required.</title> <META NAME="Keywords" Content="Administrative Rules 20:14:08:01"> <META NAME="Description" Content="Administrative Rules 20:14:08:01 Staff appraiser independence required."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:14:08:01.&nbsp;&nbsp;Staff appraiser independence required.</b> If an appraisal is prepared by a staff appraiser who is an employee of a financial institution, that appraiser must be independent of the lending, investment, and collection functions and not involved, except as an appraiser, in the transaction. The appraiser may have no direct or indirect interest, financial or otherwise, in the property.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 18 SDR 36, effective August 25, 1991; 22 SDR 91, effective January 1, 1996.</p> <p>&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></p> <p>&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(13)(16).</A></p> </div> </body> </html>