Individuals & Families
Small Businesses
Nonprofits
Employers
Employee Benefits Brokers
PEOs
Credit Unions
Membership Groups
Legal Information
Sign In
/
U.S. State Codes
/
South-Dakota
/
Title 36 - Professions and ...
/
Chapter 21A - Real Estate Licensing
Chapter 21A - Real Estate Licensing
§ 36-21A-1 Definition of terms.
§ 36-21A-2 Advertisement and advertising defined.
§ 36-21A-3 Appraisal defined.
§ 36-21A-4 Repealed.
§ 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§ 36-21A-8 Repealed.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 license 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 licensing requirements.
§ 36-21A-12.2 Broker price opinion and comparative market analysis defined.
§ 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 Labor and Regulation--Records and reports.
§ 36-21A-17 Seal of commission.
§ 36-21A-18 Executive director--Duties.
§ 36-21A-19 Employment of personnel.
§ 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 List of licensees and other information to be available.
§ 36-21A-27 Licensees not qualified for exceptions.
§ 36-21A-28 Active license required for certain acts.
§ 36-21A-29 Persons and entities exempt from licensure.
§ 36-21A-30 Reputation, age, competence, and citizenship required for license--Prior rejection or revocation of license.
§ 36-21A-30.1 Education requirement for broker associate license applicants.
§ 36-21A-30.2 Education requirements for initial licensure as broker associate.
§ 36-21A-31 Experience and education required of applicant for responsible broker's license.
§ 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-33 Denial of application.
§ 36-21A-34 Repealed.
§ 36-21A-34.1 Requirements for upgrade to broker associate license.
§ 36-21A-34.2 Repealed.
§ 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 Responsible broker to represent corporation, limited liability company, partnership or association and sign application--Termination of affiliation--Fee.
§ 36-21A-39 Dissolution of corporation, partnership, limited liability company, or association--Return of license.
§ 36-21A-40 Repealed.
§ 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 Repealed.
§ 36-21A-46 Repealed.
§ 36-21A-46.1 Responsible broker, salesperson, or broker associate permitted to form certain business entities--Conditions.
§ 36-21A-47 Restricted broker's license--Termination and prosecution if licensee exceeds authority.
§ 36-21A-48 Exemption from property manager's license for operators of state and federal housing units.
§ 36-21A-49 Application fee for individual licensure.
§ 36-21A-50 Conditions for issuing of license or reinstatement after revocation or suspension.
§ 36-21A-51 Repealed.
§ 36-21A-52 Registration of place of business--Change of location.
§ 36-21A-53 Branch office name.
§ 36-21A-54 Reciprocal privileges extended to nonresident licensees--Licensees from states 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 executive director.
§ 36-21A-56 Written notice of change of association--Statement of registration--Salesman placed on inactive status.
§ 36-21A-57 Repealed.
§ 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-59 Repealed.
§ 36-21A-60 Additional fees.
§ 36-21A-61 Biennial registration--Cancellation upon failure to register.
§ 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 inactive until proof of continuing education provided.
§ 36-21A-65 Exceptions to continuing education requirements.
§ 36-21A-66 Late renewal application--Fee.
§ 36-21A-67 Licensees entering United States armed forces--Application for reinstatement--Timing and requirements--Waiver of continuing education.
§ 36-21A-68 Grounds for revocation of license--Criminal prosecution--Setting minimum fees not impaired--Suspension, reprimand, and monetary penalties.
§ 36-21A-69 Repealed.
§ 36-21A-69.1 Responsible broker to surrender associate licenses.
§ 36-21A-70 Revocation or suspension of firm license following discipline of responsible broker.
§ 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 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 activities of affiliated licensees.
§ 36-21A-80 Handling of money received by broker for principal.
§ 36-21A-81 Disbursement pursuant to written agreement of trust funds where purchase agreement 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 Records kept by broker remitting immediately to principal.
§ 36-21A-84 Completed transaction required for compensation of broker--Promulgation of 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 chapter.
§ 36-21A-89.1 Repealed.
§ 36-21A-90 Promulgation of rules establishing uniform standards of professional appraisal practice.
§ 36-21A-91 Actions for injunction--Attorney fees and costs.
§ 36-21A-92 Repealed.
§ 36-21A-93 Application for subdivision certificate--Fee--Contents--Additional information.
§ 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 of process.
§ 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 minimum balance.
§ 36-21A-103 Notice to commission of claims against recovery fund--Intervention by commission.
§ 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-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 action was contested by debtor.
§ 36-21A-108 Defense by commission of action against recovery fund--Motion for dismissal--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--Prior judgment 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 to fund 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 omissions coverage.
§ 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 of coverage.
§ 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 Disclosure of client information by seller's or landlord's agent.
§ 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 written authority--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 be disclosed 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 and obligations.
§ 36-21A-141 Certain information not to be disclosed by limited agent without written consent.
§ 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-142 Limited agent not to disclose certain information about one client to another without 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--Statements by seller--Finances.
§ 36-21A-146 Certain information not to be disclosed by transaction broker without written consent.
§ 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.
§ 36-21A-151 Applicants for licensure and registration and licensees under disciplinary investigation to submit to criminal background check.