South Dakota Codified Laws
Title 36 - Professions and Occupations
Chapter 21A - Real Estate Licensing

Section 36-21A-12.1 - Residential rental agent defined--Promulgation of rules for licensing requirements. - 36-21A-12.1. Residential rental agent defined--Promulgation of rules for licensing requirements....

Section 36-21A-12.2 - Broker price opinion and comparative market analysis defined. - 36-21A-12.2. Broker price opinion and comparative market analysis defined. For...

Section 36-21A-13 - Real estate commission created--Composition. - 36-21A-13. Real estate commission created--Composition. There is created a South...

Section 36-21A-14 - Terms of commission members--Vacancies. - 36-21A-14. Terms of commission members--Vacancies. Each member of the commission...

Section 36-21A-15 - Quorum of commission. - 36-21A-15. Quorum of commission. A majority of the commission, in...

Section 36-21A-16 - Commission continued within Department of Labor and Regulation--Records and reports. - 36-21A-16. Commission continued within Department of Labor and Regulation--Records and...

Section 36-21A-17 - Seal of commission. - 36-21A-17. Seal of commission. The commission shall adopt a seal...

Section 36-21A-18 - Executive director--Duties. - 36-21A-18. Executive director--Duties. The commission shall employ an executive director...

Section 36-21A-19 - Employment of personnel. - 36-21A-19. Employment of personnel. The commission may employ personnel as...

Section 36-21A-20 - Office of executive director--Records and property maintained. - 36-21A-20. Office of executive director--Records and property maintained. The location...

Section 36-21A-21 - Meetings of commission. - 36-21A-21. Meetings of commission. The commission shall meet annually and...

Section 36-21A-22 - Filing or notice to the commission--Date of filing or notice. - 36-21A-22. Filing or notice to the commission--Date of filing or...

Section 36-21A-23 - Compensation and expenses of commission members. - 36-21A-23. Compensation and expenses of commission members. The compensation and...

Section 36-21A-24 - Real estate courses and institutes conducted by commission. - 36-21A-24. Real estate courses and institutes conducted by commission. The...

Section 36-21A-25 - Assistance provided to libraries, licensees, institutes and foundations. - 36-21A-25. Assistance provided to libraries, licensees, institutes and foundations. The...

Section 36-21A-26 - List of licensees and other information to be available. - 36-21A-26. List of licensees and other information to be available....

Section 36-21A-27 - Licensees not qualified for exceptions. - 36-21A-27. Licensees not qualified for exceptions. Any person licensed under...

Section 36-21A-28 - Active license required for certain acts. - 36-21A-28. Active license required for certain acts. No person, unless...

Section 36-21A-29 - Persons and entities exempt from licensure. - 36-21A-29. Persons and entities exempt from licensure. This chapter does...

Section 36-21A-30 - Reputation, age, competence, and citizenship required for license--Prior rejection or revocation of license. - 36-21A-30. Reputation, age, competence, and citizenship required for license--Prior rejection...

Section 36-21A-30.1 - Education requirement for broker associate license applicants. - 36-21A-30.1. Education requirement for broker associate license applicants. An applicant...

Section 36-21A-30.2 - Education requirements for initial licensure as broker associate. - 36-21A-30.2. Education requirements for initial licensure as broker associate. Any...

Section 36-21A-31 - Responsible broker's license--Experience and education required. - 36-21A-31. Responsible broker's license--Experience and education required. An applicant for...

Section 36-21A-32 - Waiver of experience requirement on responsible broker applicant's refusal to associate--Relocation or acceptance of unfair contract not required. - 36-21A-32. Waiver of experience requirement on responsible broker applicant's refusal...

Section 36-21A-33 - Denial of application--Reasons. - 36-21A-33. Denial of application--Reasons. An application may be denied for...

Section 36-21A-34.1 - Requirements for upgrade to broker associate license. - 36-21A-34.1. Requirements for upgrade to broker associate license. An active...

Section 36-21A-35 - Application for license--Contents--Oath or affirmation. - 36-21A-35. Application for license--Contents--Oath or affirmation. An application for a...

Section 36-21A-36 - Written examination--Time and place--Contents. - 36-21A-36. Written examination--Time and place--Contents. An applicant for a license...

Section 36-21A-36.1 - Application for license--Time limit. - 36-21A-36.1. Application for license--Time limit. Upon notification in writing that...

Section 36-21A-37 - License required for real estate firm. - 36-21A-37. License required for real estate firm. No partnership, association,...

Section 36-21A-38 - Responsible broker to represent corporation, limited liability company, partnership or association and sign application--Termination of affiliation--Fee. - 36-21A-38. Responsible broker to represent corporation, limited liability company, partnership...

Section 36-21A-39 - Dissolution of corporation, partnership, limited liability company, or association--Notification. - 36-21A-39. Dissolution of corporation, partnership, limited liability company, or association--Notification....

Section 36-21A-41 - Qualification by examination required. - 36-21A-41. Qualification by examination required. No person may be licensed...

Section 36-21A-43 - Examination reciprocity with other states. - 36-21A-43. Examination reciprocity with other states. An applicant who holds...

Section 36-21A-44 - Issuance of license to successful applicant--Association with broker--Authority to conduct business. - 36-21A-44. Issuance of license to successful applicant--Association with broker--Authority to...

Section 36-21A-46.1 - Responsible broker, salesperson, or broker associate permitted to form certain business entities--Conditions. - 36-21A-46.1. Responsible broker, salesperson, or broker associate permitted to form...

Section 36-21A-47 - Restricted broker's license--Issuance--Termination and prosecution--Promulgation of rules. - 36-21A-47. Restricted broker's license--Issuance--Termination and prosecution--Promulgation of rules. The commission...

Section 36-21A-48 - Exemption from property manager's license for operators of state and federal housing units. - 36-21A-48. Exemption from property manager's license for operators of state...

Section 36-21A-49 - Application fee for individual licensure. - 36-21A-49. Application fee for individual licensure. The commission shall set,...

Section 36-21A-50 - Conditions for issuing of license or reinstatement after revocation or suspension. - 36-21A-50. Conditions for issuing of license or reinstatement after revocation...

Section 36-21A-52 - Registration of place of business--Change of location. - 36-21A-52. Registration of place of business--Change of location. Each person...

Section 36-21A-53 - Branch office name. - 36-21A-53. Branch office name. A branch office shall operate under...

Section 36-21A-54 - Reciprocal privileges extended to nonresident licensees--Licensees from states not granting full reciprocity. - 36-21A-54. Reciprocal privileges extended to nonresident licensees--Licensees from states not...

Section 36-21A-55 - Transaction of business subjects nonresidents to personal jurisdiction--Service of process--Delivery of copy of process or pleading to executive director. - 36-21A-55. Transaction of business subjects nonresidents to personal jurisdiction--Service of...

Section 36-21A-56 - Written notice of change of association--Statement of registration--Salesman placed on inactive status. - 36-21A-56. Written notice of change of association--Statement of registration--Salesman placed...

Section 36-21A-58 - Renewal of license by salesperson or broker associate not associated with responsible broker--Restrictions on inactive salesperson or broker associate. - 36-21A-58. Renewal of license by salesperson or broker associate not...

Section 36-21A-60 - Additional fees. - 36-21A-60. Additional fees. Fees include the following: (1)Certificate of licensee,...

Section 36-21A-61 - Biennial registration--Cancellation upon failure to register. - 36-21A-61. Biennial registration--Cancellation upon failure to register. A licensee, either...

Section 36-21A-62 - Biennial proof by licensees of continuing education--Persons exempt. - 36-21A-62. Biennial proof by licensees of continuing education--Persons exempt. An...

Section 36-21A-63 - Approved courses for continuing education--List maintained--Standards. - 36-21A-63. Approved courses for continuing education--List maintained--Standards. The commission may...

Section 36-21A-64 - License inactive until proof of continuing education provided. - 36-21A-64. License inactive until proof of continuing education provided. An...

Section 36-21A-65 - Exceptions to continuing education requirements. - 36-21A-65. Exceptions to continuing education requirements. The commission may make...

Section 36-21A-66 - Late renewal application--Fee. - 36-21A-66. Late renewal application--Fee. A licensee who fails to meet...

Section 36-21A-67 - Licensees entering United States armed forces--Application for reinstatement--Timing and requirements--Waiver of continuing education. - 36-21A-67. Licensees entering United States armed forces--Application for reinstatement--Timing and...

Section 36-21A-68 - Grounds for revocation of license--Criminal prosecution--Setting minimum fees not impaired--Suspension, reprimand, and monetary penalties. - 36-21A-68. Grounds for revocation of license--Criminal prosecution--Setting minimum fees not...

Section 36-21A-69.1 - Responsible broker to surrender associate licenses. - 36-21A-69.1. Responsible broker to surrender associate licenses. If the commission...

Section 36-21A-70 - Revocation or suspension of firm license following discipline of responsible broker. - 36-21A-70. Revocation or suspension of firm license following discipline of...

Section 36-21A-71 - Acts constituting unprofessional conduct. - 36-21A-71. Acts constituting unprofessional conduct. Unprofessional conduct includes the following:...

Section 36-21A-72 - Restrictions on licensee advertising. - 36-21A-72. Restrictions on licensee advertising. A licensee who advertises shall...

Section 36-21A-74 - Preservation of records. - 36-21A-74. Preservation of records. A licensee shall preserve for four...

Section 36-21A-75 - Closing statements to be furnished by brokers. - 36-21A-75. Closing statements to be furnished by brokers. The listing...

Section 36-21A-76 - Cobrokerage transaction--Money held in broker's trust account. - 36-21A-76. Cobrokerage transaction--Money held in broker's trust account. Any earnest...

Section 36-21A-77 - Purchaser deposits in unconsummated transactions. - 36-21A-77. Purchaser deposits in unconsummated transactions. If for any reason...

Section 36-21A-78 - Substantiation of information in listing agreement--Latent defects. - 36-21A-78. Substantiation of information in listing agreement--Latent defects. On taking...

Section 36-21A-79 - Broker's responsibility for activities of affiliated licensees. - 36-21A-79. Broker's responsibility for activities of affiliated licensees. A responsible...

Section 36-21A-80 - Handling of money received by broker for principal. - 36-21A-80. Handling of money received by broker for principal. A...

Section 36-21A-81 - Disbursement pursuant to written agreement of trust funds where purchase agreement does not close. - 36-21A-81. Disbursement pursuant to written agreement of trust funds where...

Section 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-82. Deposit slip and ledger sheet for special trust account--Records...

Section 36-21A-83 - Records kept by broker remitting immediately to principal. - 36-21A-83. Records kept by broker remitting immediately to principal. A...

Section 36-21A-84 - Completed transaction required for compensation of broker--Promulgation of rules for exceptions. - 36-21A-84. Completed transaction required for compensation of broker--Promulgation of rules...

Section 36-21A-86 - Procedure on revocation of license--Appeal. - 36-21A-86. Procedure on revocation of license--Appeal. No license may be...

Section 36-21A-87 - Violation of chapter as misdemeanor. - 36-21A-87. Violation of chapter as misdemeanor. Unless punishable under Title...

Section 36-21A-88 - Action for compensation of unlicensed persons prohibited. - 36-21A-88. Action for compensation of unlicensed persons prohibited. No action...

Section 36-21A-89 - Administration and enforcement of chapter--Promulgation of rules. - 36-21A-89. Administration and enforcement of chapter--Promulgation of rules. The commission...

Section 36-21A-90 - Promulgation of rules establishing uniform standards of professional appraisal practice. - 36-21A-90. Promulgation of rules establishing uniform standards of professional appraisal...

Section 36-21A-91 - Actions for injunction--Attorney fees and costs. - 36-21A-91. Actions for injunction--Attorney fees and costs. The commission may...

Section 36-21A-93 - Application for subdivision certificate--Fee--Contents--Additional information. - 36-21A-93. Application for subdivision certificate--Fee--Contents--Additional information. Before subdivided land is...

Section 36-21A-94 - Proof by subdivider of ability to provide promised public improvements--Security. - 36-21A-94. Proof by subdivider of ability to provide promised public...

Section 36-21A-95 - Investigation of application and inspection of out-of-state real estate--Expenses borne by applicant. - 36-21A-95. Investigation of application and inspection of out-of-state real estate--Expenses...

Section 36-21A-96 - Designation of executive director of commission as agent for service of process. - 36-21A-96. Designation of executive director of commission as agent for...

Section 36-21A-97 - Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation. - 36-21A-97. Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation. If...

Section 36-21A-98 - Recording of instrument conveying interest in subdivision. - 36-21A-98. Recording of instrument conveying interest in subdivision. An instrument...

Section 36-21A-99 - Cease and desist orders to prevent subdivision sales provisions violations. - 36-21A-99. Cease and desist orders to prevent subdivision sales provisions...

Section 36-21A-100 - Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest. - 36-21A-100. Contracts violating subdivision sale provisions void and unenforceable--Recovery of...

Section 36-21A-101 - Establishment of real estate recovery fund--Purpose. - 36-21A-101. Establishment of real estate recovery fund--Purpose. The commission shall...

Section 36-21A-102 - Minimum balance in recovery fund--Separate fee payable to restore minimum balance. - 36-21A-102. Minimum balance in recovery fund--Separate fee payable to restore...

Section 36-21A-103 - Notice to commission of claims against recovery fund--Intervention by commission. - 36-21A-103. Notice to commission of claims against recovery fund--Intervention by...

Section 36-21A-104 - Application by unsatisfied judgment creditor for payment of loss from recovery fund--Maximum payment--Service on commission and judgment debtor--Hearing on application for payment--Continuances. - 36-21A-104. Application by unsatisfied judgment creditor for payment of loss...

Section 36-21A-105 - Facts to be shown at hearing by applicant for payment from recovery fund. - 36-21A-105. Facts to be shown at hearing by applicant for...

Section 36-21A-106 - False statement in proceedings against recovery fund as perjury. - 36-21A-106. False statement in proceedings against recovery fund as perjury....

Section 36-21A-107 - Burden of proof as to fraud or conversion--Presumption when original action was contested by debtor. - 36-21A-107. Burden of proof as to fraud or conversion--Presumption when...

Section 36-21A-108 - Defense by commission of action against recovery fund--Motion for dismissal--Compromise. - 36-21A-108. Defense by commission of action against recovery fund--Motion for...

Section 36-21A-109 - Defense by judgment debtor in action against recovery fund. - 36-21A-109. Defense by judgment debtor in action against recovery fund....

Section 36-21A-110 - Payment from recovery fund ordered only on valid cause of action--Prior judgment only prima facie evidence. - 36-21A-110. Payment from recovery fund ordered only on valid cause...

Section 36-21A-111 - Order for payment from recovery fund. - 36-21A-111. Order for payment from recovery fund. If the court...

Section 36-21A-112 - Maximum liability of fund for acts of one licensee. - 36-21A-112. Maximum liability of fund for acts of one licensee....

Section 36-21A-113 - Deferred payment of authorized claim--Interest. - 36-21A-113. Deferred payment of authorized claim--Interest. If, at any time,...

Section 36-21A-114 - Suspension of license when payment from fund authorized--Repayment to fund required for reinstatement. - 36-21A-114. Suspension of license when payment from fund authorized--Repayment to...

Section 36-21A-115 - Subrogation of fund to rights under judgment paid--Assignment. - 36-21A-115. Subrogation of fund to rights under judgment paid--Assignment. If,...

Section 36-21A-116 - Other disciplinary powers unimpaired--Effect of repayment to fund. - 36-21A-116. Other disciplinary powers unimpaired--Effect of repayment to fund. Nothing...

Section 36-21A-119 - Errors and omissions insurance required of salesmen and brokers. - 36-21A-119. Errors and omissions insurance required of salesmen and brokers....

Section 36-21A-120 - Group insurance coverage authorized--Independent errors and omissions coverage. - 36-21A-120. Group insurance coverage authorized--Independent errors and omissions coverage. The...

Section 36-21A-121 - Commission to determine conditions of errors and omissions coverage. - 36-21A-121. Commission to determine conditions of errors and omissions coverage....

Section 36-21A-122 - Notice of terms and conditions of errors and omissions--Certificate of coverage. - 36-21A-122. Notice of terms and conditions of errors and omissions--Certificate...

Section 36-21A-124 - Employment status--Independent contractor. - 36-21A-124. Employment status--Independent contractor. For purposes of determining employment status,...

Section 36-21A-125 - Adverse material fact defined. - 36-21A-125. Adverse material fact defined. For the purposes of this...

Section 36-21A-126 - Brokerage defined. - 36-21A-126. Brokerage defined. For the purposes of this chapter, a...

Section 36-21A-127 - Confidential information defined. - 36-21A-127. Confidential information defined. For the purposes of this chapter,...

Section 36-21A-128 - Informative acts that do not constitute representation. - 36-21A-128. Informative acts that do not constitute representation. For the...

Section 36-21A-129 - Substantive contact defined. - 36-21A-129. Substantive contact defined. For the purposes of this chapter,...

Section 36-21A-130 - Agency agreements--Requirements. - 36-21A-130. Agency agreements--Requirements. Any agency agreement in which a broker...

Section 36-21A-131 - Licensee--Limited relationships. - 36-21A-131. Licensee--Limited relationships. Any licensee performing services authorized by §§36-21A-119...

Section 36-21A-132 - Duties and obligations of licensee representing seller or landlord. - 36-21A-132. Duties and obligations of licensee representing seller or landlord....

Section 36-21A-133 - Disclosure of client information by seller's or landlord's agent. - 36-21A-133. Disclosure of client information by seller's or landlord's agent....

Section 36-21A-134 - Seller's agent has no fiduciary duty to customer. - 36-21A-134. Seller's agent has no fiduciary duty to customer. No...

Section 36-21A-134.1 - No duty to disclose sex offender information. - 36-21A-134.1. No duty to disclose sex offender information. No licensee...

Section 36-21A-135 - Seller's agent may show other properties. - 36-21A-135. Seller's agent may show other properties. A seller's or...

Section 36-21A-136 - Duties and obligations of licensee representing buyer or tenant. - 36-21A-136. Duties and obligations of licensee representing buyer or tenant....

Section 36-21A-137 - Buyer's or tenant's agent not to disclose certain information without written authority--Exceptions. - 36-21A-137. Buyer's or tenant's agent not to disclose certain information...

Section 36-21A-138 - Buyer's agent has no fiduciary duty to customer. - 36-21A-138. Buyer's agent has no fiduciary duty to customer. No...

Section 36-21A-138.1 - No duty to volunteer sex offender information--Actual knowledge must be disclosed upon inquiry. - 36-21A-138.1. No duty to volunteer sex offender information--Actual knowledge must...

Section 36-21A-139 - Buyer's agent may show property to competing clients. - 36-21A-139. Buyer's agent may show property to competing clients. A...

Section 36-21A-140 - Licensee as limited agent--Written consent of all parties required--Duties and obligations. - 36-21A-140. Licensee as limited agent--Written consent of all parties required--Duties...

Section 36-21A-141 - Certain information not to be disclosed by limited agent without written consent. - 36-21A-141. Certain information not to be disclosed by limited agent...

Section 36-21A-141.1 - Appointment of licensee to act as appointed agent of client to exclusion of other licensees--Limited agent--Information--Rules. - 36-21A-141.1. Appointment of licensee to act as appointed agent of...

Section 36-21A-142 - Limited agent not to disclose certain information about one client to another without written authority--Exceptions. - 36-21A-142. Limited agent not to disclose certain information about one...

Section 36-21A-143 - Subagency defined. - 36-21A-143. Subagency defined. For the purposes of this chapter, a...

Section 36-21A-144 - Transaction broker--Duties and obligations. - 36-21A-144. Transaction broker--Duties and obligations. Any licensee acting as a...

Section 36-21A-145 - Transaction broker not responsible for--Independent inspections--Statements by seller--Finances. - 36-21A-145. Transaction broker not responsible for--Independent inspections--Statements by seller--Finances. No...

Section 36-21A-146 - Certain information not to be disclosed by transaction broker without written consent. - 36-21A-146. Certain information not to be disclosed by transaction broker...

Section 36-21A-147 - Office policies--Relationships--Written disclosure. - 36-21A-147. Office policies--Relationships--Written disclosure. Every responsible broker shall develop and...

Section 36-21A-148 - Client, licensee not liable for misrepresentation made by the other--Exception. - 36-21A-148. Client, licensee not liable for misrepresentation made by the...

Section 36-21A-149 - Duties under common law. - 36-21A-149. Duties under common law. This section supersedes only the...

Section 36-21A-150 - Duties of broker or licensee after transaction finished. - 36-21A-150. Duties of broker or licensee after transaction finished. Unless...

Section 36-21A-151 - Applicants and licensees under disciplinary investigation--Criminal background check. - 36-21A-151. Applicants and licensees under disciplinary investigation--Criminal background check. Each...

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South Dakota Codified Laws Title 36 - Professions and Occupations Chapter 21A - Real Estate Licensing

South Dakota Codified Laws
Title 36 - Professions and Occupations
Chapter 21A - Real Estate Licensing