2012 South Dakota Codified Laws
Title 36 PROFESSIONS AND OCCUPATIONS
Chapter 21D. Appraisal Management Companies
§36-21D-11 Permissible conduct.
36-21D-11. Permissible conduct. No appraisal management company violates § 36-21D-10 solely by asking a real estate appraiser to:
(1) Consider additional, appropriate property information;
(2) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or
(3) Correct errors in the appraisal report.
An appraisal management company may retain a real estate appraiser from panels or lists on a rotating basis; supply an appraiser with information the appraiser is required to analyze under the appraisal standards adopted by the department, such as agreements of sale, options, and listings of the property to be valued; and withhold payment of an appraisal fee based on a bona fide dispute regarding the appraiser's compliance with the appraisal standards adopted by the Department of Revenue pursuant to this chapter.
Source: SL 2011, ch 184, § 11.
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