S.D. Codified Laws § 36-21D-11

Current through the 2024 Legislative Session

Section 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 Labor and Regulation pursuant to this chapter.

SDCL 36-21D-11

SL 2011, ch 184, §11.