There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 21A — Real Estate Licensing
- 36-21A-1 — Definition of terms.
- 36-21A-2 — "Advertising" defined.
- 36-21A-3 — "Appraisal" defined.
- 36-21A-4 — "Appraiser" defined.
- 36-21A-5 — "Association" defined.
- 36-21A-6 — "Real estate broker" and "broker" defined.
- 36-21A-7 — "Moral turpitude" defined.
- 36-21A-8 — Repealed.
- 36-21A-9 — "Inactive licensee" defined.
- 36-21A-10 — "Property manager" defined.
- 36-21A-11 — "Real estate" and "realty" defined.
- 36-21A-12 — "Real estate salesperson" defined.
- 36-21A-12.1 — "Residential rental agent" defined--Promulgation of rules for licensingrequirements.
- 36-21A-13 — Real estate commission created--Composition.
- 36-21A-14 — Terms of commission members--Vacancies.
- 36-21A-15 — Quorum of commission.
- 36-21A-16 — Commission continued within Department of Revenue and Regulation--Records and reports.
- 36-21A-17 — Seal of commission.
- 36-21A-18 — Employment of executive director--Bonds--Duties.
- 36-21A-19 — Salary of executive director--Employment of other personnel--Expenditures.
- 36-21A-20 — Office of executive director--Records and property maintained.
- 36-21A-21 — Meetings of commission.
- 36-21A-22 — Filing or notice to the commission--Date of filing or notice.
- 36-21A-23 — Compensation and expenses of commission members.
- 36-21A-24 — Real estate courses and institutes conducted by commission.
- 36-21A-25 — Assistance provided to libraries, licensees, institutes and foundations.
- 36-21A-26 — Publication of list of licensees--Other information included.
- 36-21A-27 — Person acting as broker deemed to be broker within meaning of this chapter.
- 36-21A-28 — Acting as a licensee without license as a misdemeanor.
- 36-21A-29 — Persons and entities exempted from this chapter.
- 36-21A-30 — Reputation, age, competence, and citizenship required for license--Priorrejection or revocation of license.
- 36-21A-30.1 — Education requirement for broker associate license.
- 36-21A-31 — Experience and education required of applicant for responsible broker'slicense.
- 36-21A-32 — Waiver of experience requirement on responsible broker applicant's refusalto associate--Relocation or acceptance of unfair contract not required.
- 36-21A-33 — Denial of application.
- 36-21A-34 — Repealed.
- 36-21A-34.1 — Continuing education required of salesperson--Promulgation of rulesspecifying requirements--Exemption.
- 36-21A-34.2 — Certain salespersons to apply for broker associate license.
- 36-21A-35 — Application for license--Contents--Oath or affirmation.
- 36-21A-36 — Written examination--Time and place--Contents.
- 36-21A-36.1 — Application for license--Time limit.
- 36-21A-37 — License required for real estate firm.
- 36-21A-38 — Qualifying broker(s) to be licensed before firm licensed--Termination ofqualifying broker's affiliation--Application fee.
- 36-21A-39 — Dissolution of real estate firm--Return of firm license by qualifying broker.
- 36-21A-40 — Partner or associate must be licensee--Non licensee as shareholder, directoror officer--Conditions.
- 36-21A-41 — Qualification by examination required.
- 36-21A-42 — Repealed.
- 36-21A-43 — Examination reciprocity with other states.
- 36-21A-44 — Issuance of license to successful applicant--Association with broker--Authority to conduct business.
- 36-21A-45 — Suspension of license on disassociation from broker or firm.
- 36-21A-46 — Restriction on substantial ownership of business or firm by licensedsalesperson or broker associate--Effective date.
- 36-21A-46.1 — Salesperson or broker associate permitted to form certain business entities--Conditions.
- 36-21A-47 — Restricted broker's license--Termination and prosecution if licensee exceedsauthority.
- 36-21A-48 — Exemption from property manager's license for operators of state and federalhousing units.
- 36-21A-49 — Application fee for real estate salesperson's, broker associate's, broker's, orrestricted license.
- 36-21A-50 — Conditions for issuing of license or reinstatement after revocation orsuspension.
- 36-21A-51 — Broker's place of business--Licenses displayed--Property manager licenseexception.
- 36-21A-52 — Registration of place of business--Business restricted to designated place--New license or inactive status on change of location.
- 36-21A-53 — Branch office name.
- 36-21A-54 — Reciprocal privileges extended to nonresident licensees--Licensees fromstates not granting full reciprocity.
- 36-21A-55 — Transaction of business subjects nonresidents to personal jurisdiction--Service of process--Delivery of copy of process or pleading to executivedirector.
- 36-21A-56 — Written notice of change of association--Statement of registration--Salesmanplaced on inactive status.
- 36-21A-57 — Cancellation of salesperson's or broker associate's license upon unreportedchange of association.
- 36-21A-58 — Renewal of license by salesperson or broker associate without employingbroker--Restrictions on inactive salesperson or broker associate whose licensehas been renewed.
- 36-21A-59 — Disassociated salesperson or broker associate performing acts contemplatedby this chapter as misdemeanor.
- 36-21A-60 — Additional, transfer and duplicate license fees.
- 36-21A-61 — Biennial registration fees for licenses--Time of application--Cancellationupon failure to register--Reinstatement.
- 36-21A-62 — Biennial proof by licensees of continuing education--Persons exempt.
- 36-21A-63 — Approved courses for continuing education--List maintained--Standards.
- 36-21A-64 — License renewal withheld until proof of continuing education presented.
- 36-21A-65 — Exceptions to continuing education requirements.
- 36-21A-66 — Late renewal application and fee.
- 36-21A-67 — Licensees entering United States armed forces--Application forreinstatement--Timing and requirements--Waiver of continuing education.
- 36-21A-68 — Grounds for revocation of license--Criminal prosecution--Setting minimumfees not impaired--Suspension, reprimand, and monetary penalties.
- 36-21A-69 — Surrender of license to commission after suspension or revocation.
- 36-21A-69.1 — Responsible broker to surrender associate licenses.
- 36-21A-70 — Effect of suspension, revocation or other action taken against qualifyingbroker--Revocation or suspension of firm license.
- 36-21A-71 — Acts constituting unprofessional conduct.
- 36-21A-72 — Restrictions on licensee advertising.
- 36-21A-73 — Repealed.
- 36-21A-74 — Preservation of records.
- 36-21A-75 — Closing statements to be furnished by brokers.
- 36-21A-76 — Cobrokerage transaction--Money held in listing broker's trust account.
- 36-21A-77 — Purchaser deposits in unconsummated transactions.
- 36-21A-78 — Substantiation of information in listing agreement--Latent defects.
- 36-21A-79 — Broker's responsibility for real estate activities of salesman and brokerassociates.
- 36-21A-80 — Handling of money received by broker for principal.
- 36-21A-81 — Disbursement pursuant to written agreement of trust funds where purchaseagreement does not close.
- 36-21A-82 — Deposit slip and ledger sheet for special trust account--Records maintained--Notice to commission as to financial institution and name of account.
- 36-21A-83 — Documents kept by broker remitting immediately to principal.
- 36-21A-84 — Completed transaction required for compensation of broker--Promulgationof rules for exceptions.
- 36-21A-85 — Repealed.
- 36-21A-86 — Procedure on revocation of license--Appeal.
- 36-21A-87 — Violation of chapter as misdemeanor.
- 36-21A-88 — Action for compensation of unlicensed persons prohibited.
- 36-21A-89 — Promulgation of rules for administration and enforcement of this chapter.
- 36-21A-89.1 — Repealed.
- 36-21A-90 — Promulgation of rules establishing uniform standards of professionalappraisal practice.
- 36-21A-91 — Injunction for unprofessional conduct--Election of criminal proceedings orinjunction.
- 36-21A-92 — Definition of terms for §§ 36-21A-92 to 36-21A-100.
- 36-21A-93 — Application for subdivision certificate--Fee--Contents--Additionalinformation.
- 36-21A-94 — Proof by subdivider of ability to provide promised public improvements--Security.
- 36-21A-95 — Investigation of application and inspection of out-of-state real estate--Expenses borne by applicant.
- 36-21A-96 — Designation of executive director of commission as agent for service ofprocess.
- 36-21A-97 — Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation.
- 36-21A-98 — Recording of instrument conveying interest in subdivision.
- 36-21A-99 — Cease and desist orders to prevent subdivision sales provisions violations.
- 36-21A-100 — Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest.
- 36-21A-101 — Establishment of real estate recovery fund--Purpose.
- 36-21A-102 — Minimum balance in recovery fund--Separate fee payable to restore minimumbalance.
- 36-21A-103 — Notice to commission of claims against recovery fund--Intervention bycommission.
- 36-21A-104 — Application by unsatisfied judgment creditor for payment of loss fromrecovery fund--Maximum payment--Service on commission and judgmentdebtor--Hearing on application for payment--Continuances.
- 36-21A-105 — Facts to be shown at hearing by applicant for payment from recovery fund.
- 36-21A-106 — False statement in proceedings against recovery fund as perjury.
- 36-21A-107 — Burden of proof as to fraud or conversion--Presumption when original actionwas contested by debtor.
- 36-21A-108 — Defense by commission of action against recovery fund--Motion fordismissal--Compromise.
- 36-21A-109 — Defense by judgment debtor in action against recovery fund.
- 36-21A-110 — Payment from recovery fund ordered only on valid cause of action--Priorjudgment only prima facie evidence.
- 36-21A-111 — Order for payment from recovery fund.
- 36-21A-112 — Maximum liability of fund for acts of one licensee.
- 36-21A-113 — Deferred payment of authorized claim--Interest.
- 36-21A-114 — Suspension of license when payment from fund authorized--Repayment tofund required for reinstatement.
- 36-21A-115 — Subrogation of fund to rights under judgment paid--Assignment.
- 36-21A-116 — Other disciplinary powers unimpaired--Effect of repayment to fund.
- 36-21A-117 — , 36-21A-118. Transferred.
- 36-21A-119 — Errors and omissions insurance required of salesmen and brokers.
- 36-21A-120 — Group insurance coverage authorized--Independent errors and omissionscoverage.
- 36-21A-121 — Commission to determine conditions of errors and omissions coverage.
- 36-21A-122 — Notice of terms and conditions of errors and omissions--Certificate ofcoverage.
- 36-21A-123 — Repealed.
- 36-21A-124 — Employment status--Independent contractor.
- 36-21A-125 — "Adverse material fact" defined.
- 36-21A-126 — "Brokerage" defined.
- 36-21A-127 — "Confidential information" defined.
- 36-21A-128 — Informative acts that do not constitute representation.
- 36-21A-129 — "Substantive contact" defined.
- 36-21A-130 — Agency agreements--Requirements.
- 36-21A-131 — Licensee--Limited relationships.
- 36-21A-132 — Duties and obligations of licensee representing seller or landlord.
- 36-21A-133 — Seller's or landlord's agent not to disclose certain information without expressauthority--Exceptions.
- 36-21A-134 — Seller's agent has no fiduciary duty to customer.
- 36-21A-134.1 — No duty to disclose sex offender information.
- 36-21A-135 — Seller's agent may show other properties.
- 36-21A-136 — Duties and obligations of licensee representing buyer or tenant.
- 36-21A-137 — Buyer's or tenant's agent not to disclose certain information without writtenauthority--Exceptions.
- 36-21A-138 — Buyer's agent has no fiduciary duty to customer.
- 36-21A-138.1 — No duty to volunteer sex offender information--Actual knowledge must bedisclosed upon inquiry.
- 36-21A-139 — Buyer's agent may show property to competing clients.
- 36-21A-140 — Licensee as limited agent--Written consent of all parties required--Duties andobligations.
- 36-21A-141 — Certain information not to be disclosed by limited agent without writtenconsent.
- 36-21A-141.1 — Appointment of licensee to act as appointed agent of client to exclusion ofother licensees--Limited agent--Information--Rules.
- 36-21A-142 — Limited agent not to disclose certain information about one client to anotherwithout written authority--Exceptions.
- 36-21A-143 — "Subagency" defined.
- 36-21A-144 — Transaction broker--Duties and obligations.
- 36-21A-145 — Transaction broker not responsible for--Independent inspections--Statementsby seller--Finances.
- 36-21A-146 — Certain information not to be disclosed by transaction broker without writtenconsent.
- 36-21A-147 — Office policies--Relationships--Written disclosure.
- 36-21A-148 — Client, licensee not liable for misrepresentation made by the other--Exception.
- 36-21A-149 — Duties under common law.
- 36-21A-150 — Duties of broker or licensee after transaction finished.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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