<html> <head> <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"> <title>Rule 20:77:01 GENERAL PROVISIONS</title> <META NAME="Keywords" Content="Administrative Rules 20:77:01"> <META NAME="Description" Content="Administrative Rules 20:77:01 GENERAL PROVISIONS"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p align=center><b>CHAPTER 20:77:01</b></p> <p align=center><b>&nbsp;</b></p> <p align=center><b>GENERAL PROVISIONS</b></p> <p>Section</p> <p><a href="DisplayRule.aspx?Rule=20:77:01:01">20:77:01:01</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appraisal management services.</p> <p><a href="DisplayRule.aspx?Rule=20:77:01:02">20:77:01:02</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appraisal review.</p> <p><a href="DisplayRule.aspx?Rule=20:77:01:03">20:77:01:03</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controlling person.</p> <p><a href="DisplayRule.aspx?Rule=20:77:01:04">20:77:01:04</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designated officer.</p> <p><a href="DisplayRule.aspx?Rule=20:77:01:05">20:77:01:05</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Definitions.</p> </div> </body> </html> <br /><hr><br /><html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns="http://www.w3.org/TR/REC-html40"> <head> <title>Rule 20:77:01:01 Appraisal management services.</title> <META NAME="Keywords" Content="Administrative Rules 20:77:01:01"> <META NAME="Description" Content="Administrative Rules 20:77:01:01 Appraisal management services."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=ProgId content=Word.Document> <meta name=Generator content="Microsoft Word 10"> <meta name=Originator content="Microsoft Word 10"> <link rel=File-List href="2077010000100d_files/filelist.xml"> <!--[if gte mso 9]><xml> <o:DocumentProperties> <o:Author>lrpr14533</o:Author> <o:LastAuthor>lrpr14296</o:LastAuthor> <o:Revision>2</o:Revision> <o:TotalTime>0</o:TotalTime> <o:Created>2011-09-20T19:37:00Z</o:Created> <o:LastSaved>2011-09-20T19:37:00Z</o:LastSaved> <o:Pages>1</o:Pages> <o:Words>134</o:Words> <o:Characters>765</o:Characters> <o:Company>State of South Dakota</o:Company> <o:Lines>6</o:Lines> <o:Paragraphs>1</o:Paragraphs> <o:CharactersWithSpaces>898</o:CharactersWithSpaces> <o:Version>10.6870</o:Version> </o:DocumentProperties> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:PunctuationKerning/> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; 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mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Calibri;} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="2050"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body lang=EN-US style='tab-interval:.5in'> <div class=Section1> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>20:77:01:01.&nbsp;&nbsp;Appraisal management services.</b> &quot;Appraisal management services,&quot; is the act or process to (a) recruit, select, and retain appraisers; (b) contract with licensed or certified appraisers to perform appraisal assignments; and (c) manage the process of having an appraisal performed.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>Appraisal management services includes administrative duties such as receiving appraisal orders and appraisal reports; submitting completed appraisal reports to creditors and underwriters; collecting fees from creditors and underwriters for services provided; and reimbursing appraisers for services performed. It also includes the review and verification of the work of appraisers for compliance with the Uniform Standards of Professional Appraisal Practice.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Source:</b> 38 SDR 40, effective September 20, 2011.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4.</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-1">36-21D-1</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-2">36-21D-2</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4(2).</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html> <br /><hr><br /><html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns="http://www.w3.org/TR/REC-html40"> <head> <title>Rule 20:77:01:02 Appraisal review.</title> <META NAME="Keywords" Content="Administrative Rules 20:77:01:02"> <META NAME="Description" Content="Administrative Rules 20:77:01:02 Appraisal review."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=ProgId content=Word.Document> <meta name=Generator content="Microsoft Word 10"> <meta name=Originator content="Microsoft Word 10"> <link rel=File-List href="2077010000200d_files/filelist.xml"> <!--[if gte mso 9]><xml> <o:DocumentProperties> <o:Author>lrpr14533</o:Author> <o:LastAuthor>lrpr14296</o:LastAuthor> <o:Revision>2</o:Revision> <o:TotalTime>2</o:TotalTime> <o:Created>2011-09-20T19:37:00Z</o:Created> <o:LastSaved>2011-09-20T19:37:00Z</o:LastSaved> <o:Pages>1</o:Pages> <o:Words>119</o:Words> <o:Characters>682</o:Characters> <o:Company>State of South Dakota</o:Company> <o:Lines>5</o:Lines> <o:Paragraphs>1</o:Paragraphs> <o:CharactersWithSpaces>800</o:CharactersWithSpaces> <o:Version>10.6870</o:Version> </o:DocumentProperties> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:PunctuationKerning/> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} @font-face {font-family:Times; panose-1:2 2 6 3 5 4 5 2 3 4; mso-font-charset:0; mso-generic-font-family:roman; mso-font-pitch:variable; mso-font-signature:536902279 -2147483648 8 0 511 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; mso-layout-grid-align:none; punctuation-wrap:simple; text-autospace:none; font-size:10.0pt; font-family:Times; mso-fareast-font-family:"Times New Roman"; mso-bidi-font-family:"Times New Roman";} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> </style> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Calibri;} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="2050"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body lang=EN-US style='tab-interval:.5in'> <div class=Section1> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>20:77:01:02.&nbsp;&nbsp;Appraisal review.</b> &quot;Appraisal review,&quot; is an act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the Uniform Standards of Professional Appraisal Practice. The term does not include a general examination for grammatical, typographical or other similar errors, or a general examination for completeness including regulatory, or client requirements or both as specified in the agreement process that does not communicate an opinion.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Source:</b> 38 SDR 40, effective September 20, 2011.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4.</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-2">36-21D-2(4)</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4(2).</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html> <br /><hr><br /><html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns="http://www.w3.org/TR/REC-html40"> <head> <title>Rule 20:77:01:03 Controlling person.</title> <META NAME="Keywords" Content="Administrative Rules 20:77:01:03"> <META NAME="Description" Content="Administrative Rules 20:77:01:03 Controlling person."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=ProgId content=Word.Document> <meta name=Generator content="Microsoft Word 10"> <meta name=Originator content="Microsoft Word 10"> <link rel=File-List href="2077010000300d_files/filelist.xml"> <!--[if gte mso 9]><xml> <o:DocumentProperties> <o:Author>lrpr14533</o:Author> <o:LastAuthor>lrpr14296</o:LastAuthor> <o:Revision>2</o:Revision> <o:TotalTime>0</o:TotalTime> <o:Created>2011-09-20T19:37:00Z</o:Created> <o:LastSaved>2011-09-20T19:37:00Z</o:LastSaved> <o:Pages>1</o:Pages> <o:Words>126</o:Words> <o:Characters>720</o:Characters> <o:Company>State of South Dakota</o:Company> <o:Lines>6</o:Lines> <o:Paragraphs>1</o:Paragraphs> <o:CharactersWithSpaces>845</o:CharactersWithSpaces> <o:Version>10.6870</o:Version> </o:DocumentProperties> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:PunctuationKerning/> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} @font-face {font-family:Times; panose-1:2 2 6 3 5 4 5 2 3 4; mso-font-charset:0; mso-generic-font-family:roman; mso-font-pitch:variable; mso-font-signature:536902279 -2147483648 8 0 511 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; mso-layout-grid-align:none; punctuation-wrap:simple; text-autospace:none; font-size:10.0pt; font-family:Times; mso-fareast-font-family:"Times New Roman"; mso-bidi-font-family:"Times New Roman";} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> </style> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Calibri;} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="2050"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body lang=EN-US style='tab-interval:.5in'> <div class=Section1> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>20:77:01:03.&nbsp;&nbsp;Controlling person.</b> A &quot;controlling person,&quot; is one or more of the following:<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>(1)&nbsp;&nbsp;An officer or director of an appraisal management company, or an individual that holds 10% or greater ownership interest in an appraisal management company;<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>(2)&nbsp;&nbsp;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<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span>(3)&nbsp;&nbsp;An individual who possesses the power to direct or cause the direction of the management or policies of an appraisal management company.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Source:</b> 38 SDR 40, effective September 20, 2011.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4.</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4(2).</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html> <br /><hr><br /><html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns="http://www.w3.org/TR/REC-html40"> <head> <title>Rule 20:77:01:04 Designated officer.</title> <META NAME="Keywords" Content="Administrative Rules 20:77:01:04"> <META NAME="Description" Content="Administrative Rules 20:77:01:04 Designated officer."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=ProgId content=Word.Document> <meta name=Generator content="Microsoft Word 10"> <meta name=Originator content="Microsoft Word 10"> <link rel=File-List href="2077010000400d_files/filelist.xml"> <!--[if gte mso 9]><xml> <o:DocumentProperties> <o:Author>lrpr14533</o:Author> <o:LastAuthor>lrpr14296</o:LastAuthor> <o:Revision>2</o:Revision> <o:TotalTime>1</o:TotalTime> <o:Created>2011-09-20T19:37:00Z</o:Created> <o:LastSaved>2011-09-20T19:37:00Z</o:LastSaved> <o:Pages>1</o:Pages> <o:Words>76</o:Words> <o:Characters>438</o:Characters> <o:Company>State of South Dakota</o:Company> <o:Lines>3</o:Lines> <o:Paragraphs>1</o:Paragraphs> <o:CharactersWithSpaces>513</o:CharactersWithSpaces> <o:Version>10.6870</o:Version> </o:DocumentProperties> </xml><![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:PunctuationKerning/> <w:Compatibility> <w:BreakWrappedTables/> <w:SnapToGridInCell/> <w:WrapTextWithPunct/> <w:UseAsianBreakRules/> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; 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mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Calibri;} </style> <![endif]--><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="2050"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body lang=EN-US style='tab-interval:.5in'> <div class=Section1> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>20:77:01:04.&nbsp;&nbsp;Designated officer.</b> A &quot;designated officer,&quot; is a controlling person authorized by the governing structure of the appraisal management company to act on behalf of the company for purposes of application for, and compliance with, requirements of this article and responsible for the supervision and control of activities conducted on behalf of the appraisal management company.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Source:</b> 38 SDR 40, effective September 20, 2011.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4.</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><span style='mso-tab-count:1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><b style='mso-bidi-font-weight:normal'>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-21D-4">36-21D-4(2).</A><o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify;tab-stops:.4in .6in .9in 1.1in 1.4in 1.6in 1.9in 2.1in 2.4in 2.6in 2.9in 3.1in 3.4in 3.6in 3.9in 4.1in'><span style='font-size:12.0pt;mso-bidi-font-size:10.0pt;font-family:"Times New Roman"'><o:p>&nbsp;</o:p></span></p> </div> </body> </html> <br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>p.s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0 { margin-top: 0; 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background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=20:77:01:05"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000000">20:77:01:05</span></a><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000001">.  Definitions.</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> Terms used in this article mean:</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (1)  "AMC National Registry," the registry of state-registered appraisal management</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">companies and federally regulated appraisal management companies maintained by the Appraisal</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">Subcommittee;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">(2)  </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">"Appraisal Subcommittee," the Appraisal Subcommittee of the Federal Financial Institutions Examination Council;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">3</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Appraiser," a person who has been issued</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> by the department</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> a state-certified general, state-certified residential, state-licensed, or </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">registered trainee</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> appraiser </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">credential to perform appraisals</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">(4)  "Appraiser panel," a network, list, or roster of licensed or certified appraisers approved by an appraisal management company to perform appraisals as independent contractors for the appraisal management company. Appraisers on an appraisal management company's appraiser panel under this article include the following:</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">        (a)  Appraisers accepted by the appraisal management company for consideration for future appraisal assignments in covered transactions and for secondary mortgage market participants in connection with covered transactions; and</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">        (b)  Appraisers engaged by the appraisal management company to perform one or more appraisals in covered transactions or for secondary mortgage market participants in connection with covered transactions.</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    An appraiser is an independent contractor for purposes of this article if considered an independent contractor by the appraisal management company for federal income tax purposes;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">5</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Certificate of Registration," the certificate verifying the registration of any person or entity approved as an appraisal management company by the State of South Dakota;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">(6)  "Covered transaction," any consumer credit transaction secured by the consumer's principal dwelling;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">7</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Department," the Department of Labor and Regulation;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (8)</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">  </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">"Federally regulated appraisal management company," an appraisal management company</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">that is owned and controlled by an insured depository institution, as defined in 12</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">U</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">.S.C. §</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">1813</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> as amended to July 21, 2010 </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">and regulated by the Office of the Comptroller of the Currency, the Board of Governors of the</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">Federal Reserve System or the Federal Deposit Insurance Corporation;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (9)</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">  </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">"Federally related transaction regulations," regulations established by the Office of the</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">Deposit Insurance Corporation, or the National Credit Union Administration, pursuant to sections</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">1112, 1113, and 1114 of FIREA Title XI, 12 U.S.C. §§</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">3341-3343</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> as amended to July 21, 2010</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">10</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Financial institutions," institutions regulated by the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Office of Thrift Supervision, and National Credit Union Administration;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">11</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "FIRREA," the Financial Institution Reform Recovery and Enforcement Act of 1989, Pub. L. No. 101-73, 103 Stat. 183 (1989), 12 U.S.C. § 3310, et seq</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">. as amended to July 21, 2010</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">12</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Real estate," as defined in SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=36-21A-11"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000003">36-21A-11</span></a><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (13)</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">  </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">"Secondary mortgage market participant," a guarantor or insurer of mortgage-backed</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">securities, or an underwriter or issuer of mortgage-backed securities. Secondary mortgage market</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">participant only includes an individual investor in a mortgage-backed security if that investor also</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">serves in the capacity of a guarantor, insurer, underwriter, or issuer for the mortgage-backed</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">security;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">14</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Secretary," the secretary of the </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">department</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (15)  "Substantive cause," a reason for imposing discipline against an appraiser described in § </span><a href="https://sdlegislature.gov/Rules?Rule=20:77:07:03"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000003">20:77:07:03</span></a><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> or a substantially similar provision in the jurisdiction that imposed the discipline;</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    (1</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">6</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">)  "Uniform Standards," Uniform Standards of Professional Appraisal Practice as incorporated in § </span><a href="https://sdlegislature.gov/Rules?Rule=20:14:06:01"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000003">20:14:06:01</span></a><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">.</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000001">Source:</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> 38 SDR 40, effective September 20, 2011; 45 SDR 4</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">5</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">, effective October 8, 2018</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">; 49 SDR 25, effective September 18, 2022; 49 SDR 48, effective November 22, 2022; 49 SDR 48, effective October 1, 2023</span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">.</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000001">General Authority:</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=36-21D-4"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000003">36-21D-4</span></a><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">(2).</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">    </span><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000001">Law Implemented:</span><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=36-21D-1"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000003">36-21D-1</span></a><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=36-21D-4"><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0-000003">36-21D-4</span></a><span style="white-space: pre-wrap;" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aC0">(2).</span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p><p dir="ltr" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8aP0"><span style="white-space: pre-wrap;" xml:space="preserve" class="s5d5ac4b6-35e5-4e3c-8a69-8ebb1f6efb8a000002"> </span></p></div></body></html>