State Codes and Statutes

Statutes > South-dakota > Title-36 > Chapter-21a

Section 36-21A-1 - Definition of terms.
Section 36-21A-2 - "Advertising" defined.
Section 36-21A-3 - "Appraisal" defined.
Section 36-21A-4 - "Appraiser" defined.
Section 36-21A-5 - "Association" defined.
Section 36-21A-6 - "Real estate broker" and "broker" defined.
Section 36-21A-7 - "Moral turpitude" defined.
Section 36-21A-8 - Repealed.
Section 36-21A-9 - "Inactive licensee" defined.
Section 36-21A-10 - "Property manager" defined.
Section 36-21A-11 - "Real estate" and "realty" defined.
Section 36-21A-12 - "Real estate salesperson" defined.
Section 36-21A-12.1 - "Residential rental agent" defined--Promulgation of rules for licensingrequirements.
Section 36-21A-13 - Real estate commission created--Composition.
Section 36-21A-14 - Terms of commission members--Vacancies.
Section 36-21A-15 - Quorum of commission.
Section 36-21A-16 - Commission continued within Department of Revenue and Regulation--Records and reports.
Section 36-21A-17 - Seal of commission.
Section 36-21A-18 - Employment of executive director--Bonds--Duties.
Section 36-21A-19 - Salary of executive director--Employment of other personnel--Expenditures.
Section 36-21A-20 - Office of executive director--Records and property maintained.
Section 36-21A-21 - Meetings of commission.
Section 36-21A-22 - Filing or notice to the commission--Date of filing or notice.
Section 36-21A-23 - Compensation and expenses of commission members.
Section 36-21A-24 - Real estate courses and institutes conducted by commission.
Section 36-21A-25 - Assistance provided to libraries, licensees, institutes and foundations.
Section 36-21A-26 - Publication of list of licensees--Other information included.
Section 36-21A-27 - Person acting as broker deemed to be broker within meaning of this chapter.
Section 36-21A-28 - Acting as a licensee without license as a misdemeanor.
Section 36-21A-29 - Persons and entities exempted from this chapter.
Section 36-21A-30 - Reputation, age, competence, and citizenship required for license--Priorrejection or revocation of license.
Section 36-21A-30.1 - Education requirement for broker associate license applicants.
Section 36-21A-30.2 - Post-licensing education requirement for broker associates.
Section 36-21A-31 - Experience and education required of applicant for responsible broker'slicense.
Section 36-21A-32 - Waiver of experience requirement on responsible broker applicant's refusalto associate--Relocation or acceptance of unfair contract not required.
Section 36-21A-33 - Denial of application.
Section 36-21A-34 - Repealed.
Section 36-21A-34.1 - Continuing education required of salesperson--Promulgation of rulesspecifying requirements--Exemption.
Section 36-21A-34.2 - Certain salespersons to apply for broker associate license.
Section 36-21A-35 - Application for license--Contents--Oath or affirmation.
Sections 36-21A-36, 36-21A-36.1 - Written examination--Time and place--Contents. Application for license--Time limit
Section 36-21A-37 - License required for real estate firm.
Section 36-21A-38 - Qualifying broker to sign firm's license application-- Termination ofqualifying broker's affiliation--Application fee.
Section 36-21A-39 - Dissolution of real estate firm--Return of firm license by qualifying broker.
Section 36-21A-40 - Partner or associate must be licensee--Non licensee as shareholder, directoror officer--Conditions.
Section 36-21A-41 - Qualification by examination required.
Section 36-21A-42 - Repealed.
Section 36-21A-43 - Examination reciprocity with other states.
Section 36-21A-44 - Issuance of license to successful applicant--Association with broker--Authority to conduct business.
Section 36-21A-45 - Suspension of license on disassociation from broker or firm.
Section 36-21A-46 - Restriction on substantial ownership of business or firm by licensedsalesperson or broker associate--Effective date.
Section 36-21A-46.1 - Broker, salesperson, or broker associate permitted to form certain businessentities--Conditions.
Section 36-21A-47 - Restricted broker's license--Termination and prosecution if licensee exceedsauthority.
Section 36-21A-48 - Exemption from property manager's license for operators of state and federalhousing units.
Section 36-21A-49 - Application fee for real estate salesperson's, broker associate's, broker's, orrestricted license.
Section 36-21A-50 - Conditions for issuing of license or reinstatement after revocation orsuspension.
Section 36-21A-51 - Broker's place of business--Licenses displayed--Property manager licenseexception.
Section 36-21A-52 - Registration of place of business--Business restricted to designated place--New license or inactive status on change of location.
Section 36-21A-53 - Branch office name.
Section 36-21A-54 - Reciprocal privileges extended to nonresident licensees--Licensees fromstates not granting full reciprocity.
Section 36-21A-55 - Transaction of business subjects nonresidents to personal jurisdiction--Service of process--Delivery of copy of process or pleading to executivedirector.
Section 36-21A-56 - Written notice of change of association--Statement of registration--Salesmanplaced on inactive status.
Section 36-21A-57 - Cancellation of salesperson's or broker associate's license upon unreportedchange of association.
Section 36-21A-58 - Renewal of license by salesperson or broker associate without employingbroker--Restrictions on inactive salesperson or broker associate whose licensehas been renewed.
Section 36-21A-59 - Disassociated salesperson or broker associate performing acts contemplatedby this chapter as misdemeanor.
Section 36-21A-60 - Additional fees.
Section 36-21A-61 - Biennial registration--Fee--Cancellation upon failure to register--Reinstatement.
Section 36-21A-62 - Biennial proof by licensees of continuing education--Persons exempt.
Section 36-21A-63 - Approved courses for continuing education--List maintained--Standards.
Sections 36-21A-64, 36-21A-65 - License renewal withheld until proof of continuing education presented. Exceptions to continuing education requirements
Section 36-21A-66 - Late renewal application--Fee.
Section 36-21A-67 - Licensees entering United States armed forces--Application forreinstatement--Timing and requirements--Waiver of continuing education.
Section 36-21A-68 - Grounds for revocation of license--Criminal prosecution--Setting minimumfees not impaired--Suspension, reprimand, and monetary penalties.
Section 36-21A-69 - Surrender of license to commission after suspension or revocation.
Section 36-21A-69.1 - Responsible broker to surrender associate licenses.
Section 36-21A-70 - Effect of suspension, revocation or other action taken against qualifyingbroker--Revocation or suspension of firm license.
Section 36-21A-71 - Acts constituting unprofessional conduct.
Section 36-21A-72 - Restrictions on licensee advertising.
Section 36-21A-73 - Repealed.
Section 36-21A-74 - Preservation of records.
Section 36-21A-75 - Closing statements to be furnished by brokers.
Section 36-21A-76 - Cobrokerage transaction--Money held in listing broker's trust account.
Section 36-21A-77 - Purchaser deposits in unconsummated transactions.
Section 36-21A-78 - Substantiation of information in listing agreement--Latent defects.
Section 36-21A-79 - Broker's responsibility for real estate activities of salesman and brokerassociates.
Section 36-21A-80 - Handling of money received by broker for principal.
Section 36-21A-81 - Disbursement pursuant to written agreement of trust funds where purchaseagreement does not close.
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.
Section 36-21A-83 - Documents kept by broker remitting immediately to principal.
Section 36-21A-84 - Completed transaction required for compensation of broker--Promulgationof rules for exceptions.
Section 36-21A-85 - Repealed.
Section 36-21A-86 - Procedure on revocation of license--Appeal.
Section 36-21A-87 - Violation of chapter as misdemeanor.
Section 36-21A-88 - Action for compensation of unlicensed persons prohibited.
Section 36-21A-89 - Promulgation of rules for administration and enforcement of this chapter.
Section 36-21A-89.1 - Repealed.
Section 36-21A-90 - Promulgation of rules establishing uniform standards of professionalappraisal practice.
Section 36-21A-91 - Injunction for unprofessional conduct--Election of criminal proceedings orinjunction.
Section 36-21A-92 - Definition of terms for §§ 36-21A-92 to 36-21A-100.
Section 36-21A-93 - Application for subdivision certificate--Fee--Contents--Additionalinformation.
Section 36-21A-94 - Proof by subdivider of ability to provide promised public improvements--Security.
Section 36-21A-95 - Investigation of application and inspection of out-of-state real estate--Expenses borne by applicant.
Section 36-21A-96 - Designation of executive director of commission as agent for service ofprocess.
Section 36-21A-97 - Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation.
Sections 36-21A-98, 36-21A-99 - Recording of instrument conveying interest in subdivision. Cease and desist orders to prevent subdivision sales provisions violations
Section 36-21A-100 - Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest.
Section 36-21A-101 - Establishment of real estate recovery fund--Purpose.
Section 36-21A-102 - Minimum balance in recovery fund--Separate fee payable to restore minimumbalance.
Section 36-21A-103 - Notice to commission of claims against recovery fund--Intervention bycommission.
Section 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--
Section 36-21A-105 - Facts to be shown at hearing by applicant for payment from recovery fund.
Section 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 actionwas contested by debtor.
Section 36-21A-108 - Defense by commission of action against recovery fund--Motion fordismissal--Compromise.
Section 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--Priorjudgment only prima facie evidence.
Section 36-21A-111 - Order for payment from recovery fund.
Section 36-21A-112 - Maximum liability of fund for acts of one licensee.
Section 36-21A-113 - Deferred payment of authorized claim--Interest.
Section 36-21A-114 - Suspension of license when payment from fund authorized--Repayment tofund required for reinstatement.
Section 36-21A-115 - Subrogation of fund to rights under judgment paid--Assignment.
Section 36-21A-116 - Other disciplinary powers unimpaired--Effect of repayment to fund.
Sections 36-21A-117, 36-21A-118 - Transferred
Section 36-21A-119 - Errors and omissions insurance required of salesmen and brokers.
Section 36-21A-120 - Group insurance coverage authorized--Independent errors and omissionscoverage.
Section 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 ofcoverage.
Section 36-21A-123 - Repealed.
Section 36-21A-124 - Employment status--Independent contractor.
Section 36-21A-125 - "Adverse material fact" defined.
Section 36-21A-126 - "Brokerage" defined.
Section 36-21A-127 - "Confidential information" defined.
Section 36-21A-128 - Informative acts that do not constitute representation.
Section 36-21A-129 - "Substantive contact" defined.
Section 36-21A-130 - Agency agreements--Requirements.
Section 36-21A-131 - Licensee--Limited relationships.
Section 36-21A-132 - Duties and obligations of licensee representing seller or landlord.
Section 36-21A-133 - Seller's or landlord's agent not to disclose certain information without expressauthority--Exceptions.
Section 36-21A-134 - Seller's agent has no fiduciary duty to customer.
Section 36-21A-134.1 - No duty to disclose sex offender information.
Section 36-21A-135 - Seller's agent may show other properties.
Sections 36-21A-136, 36-21A-137 - Duties and obligations of licensee representing buyer or tenant. Buyer's or tenant's agent not to disclose certain information without written authority--Exce
Section 36-21A-138 - Buyer's agent has no fiduciary duty to customer.
Section 36-21A-138.1 - No duty to volunteer sex offender information--Actual knowledge must bedisclosed upon inquiry.
Section 36-21A-139 - Buyer's agent may show property to competing clients.
Section 36-21A-140 - Licensee as limited agent--Written consent of all parties required--Duties andobligations.
Section 36-21A-141 - Certain information not to be disclosed by limited agent without writtenconsent.
Section 36-21A-141.1 - Appointment of licensee to act as appointed agent of client to exclusion ofother licensees--Limited agent--Information--Rules.
Section 36-21A-142 - Limited agent not to disclose certain information about one client to anotherwithout written authority--Exceptions.
Section 36-21A-143 - "Subagency" defined.
Section 36-21A-144 - Transaction broker--Duties and obligations.
Section 36-21A-145 - Transaction broker not responsible for--Independent inspections--Statementsby seller--Finances.
Section 36-21A-146 - Certain information not to be disclosed by transaction broker without writtenconsent.
Section 36-21A-147 - Office policies--Relationships--Written disclosure.
Section 36-21A-148 - Client, licensee not liable for misrepresentation made by the other--Exception.
Section 36-21A-149 - Duties under common law.
Section 36-21A-150 - Duties of broker or licensee after transaction finished.

State Codes and Statutes

Statutes > South-dakota > Title-36 > Chapter-21a

Section 36-21A-1 - Definition of terms.
Section 36-21A-2 - "Advertising" defined.
Section 36-21A-3 - "Appraisal" defined.
Section 36-21A-4 - "Appraiser" defined.
Section 36-21A-5 - "Association" defined.
Section 36-21A-6 - "Real estate broker" and "broker" defined.
Section 36-21A-7 - "Moral turpitude" defined.
Section 36-21A-8 - Repealed.
Section 36-21A-9 - "Inactive licensee" defined.
Section 36-21A-10 - "Property manager" defined.
Section 36-21A-11 - "Real estate" and "realty" defined.
Section 36-21A-12 - "Real estate salesperson" defined.
Section 36-21A-12.1 - "Residential rental agent" defined--Promulgation of rules for licensingrequirements.
Section 36-21A-13 - Real estate commission created--Composition.
Section 36-21A-14 - Terms of commission members--Vacancies.
Section 36-21A-15 - Quorum of commission.
Section 36-21A-16 - Commission continued within Department of Revenue and Regulation--Records and reports.
Section 36-21A-17 - Seal of commission.
Section 36-21A-18 - Employment of executive director--Bonds--Duties.
Section 36-21A-19 - Salary of executive director--Employment of other personnel--Expenditures.
Section 36-21A-20 - Office of executive director--Records and property maintained.
Section 36-21A-21 - Meetings of commission.
Section 36-21A-22 - Filing or notice to the commission--Date of filing or notice.
Section 36-21A-23 - Compensation and expenses of commission members.
Section 36-21A-24 - Real estate courses and institutes conducted by commission.
Section 36-21A-25 - Assistance provided to libraries, licensees, institutes and foundations.
Section 36-21A-26 - Publication of list of licensees--Other information included.
Section 36-21A-27 - Person acting as broker deemed to be broker within meaning of this chapter.
Section 36-21A-28 - Acting as a licensee without license as a misdemeanor.
Section 36-21A-29 - Persons and entities exempted from this chapter.
Section 36-21A-30 - Reputation, age, competence, and citizenship required for license--Priorrejection or revocation of license.
Section 36-21A-30.1 - Education requirement for broker associate license applicants.
Section 36-21A-30.2 - Post-licensing education requirement for broker associates.
Section 36-21A-31 - Experience and education required of applicant for responsible broker'slicense.
Section 36-21A-32 - Waiver of experience requirement on responsible broker applicant's refusalto associate--Relocation or acceptance of unfair contract not required.
Section 36-21A-33 - Denial of application.
Section 36-21A-34 - Repealed.
Section 36-21A-34.1 - Continuing education required of salesperson--Promulgation of rulesspecifying requirements--Exemption.
Section 36-21A-34.2 - Certain salespersons to apply for broker associate license.
Section 36-21A-35 - Application for license--Contents--Oath or affirmation.
Sections 36-21A-36, 36-21A-36.1 - Written examination--Time and place--Contents. Application for license--Time limit
Section 36-21A-37 - License required for real estate firm.
Section 36-21A-38 - Qualifying broker to sign firm's license application-- Termination ofqualifying broker's affiliation--Application fee.
Section 36-21A-39 - Dissolution of real estate firm--Return of firm license by qualifying broker.
Section 36-21A-40 - Partner or associate must be licensee--Non licensee as shareholder, directoror officer--Conditions.
Section 36-21A-41 - Qualification by examination required.
Section 36-21A-42 - Repealed.
Section 36-21A-43 - Examination reciprocity with other states.
Section 36-21A-44 - Issuance of license to successful applicant--Association with broker--Authority to conduct business.
Section 36-21A-45 - Suspension of license on disassociation from broker or firm.
Section 36-21A-46 - Restriction on substantial ownership of business or firm by licensedsalesperson or broker associate--Effective date.
Section 36-21A-46.1 - Broker, salesperson, or broker associate permitted to form certain businessentities--Conditions.
Section 36-21A-47 - Restricted broker's license--Termination and prosecution if licensee exceedsauthority.
Section 36-21A-48 - Exemption from property manager's license for operators of state and federalhousing units.
Section 36-21A-49 - Application fee for real estate salesperson's, broker associate's, broker's, orrestricted license.
Section 36-21A-50 - Conditions for issuing of license or reinstatement after revocation orsuspension.
Section 36-21A-51 - Broker's place of business--Licenses displayed--Property manager licenseexception.
Section 36-21A-52 - Registration of place of business--Business restricted to designated place--New license or inactive status on change of location.
Section 36-21A-53 - Branch office name.
Section 36-21A-54 - Reciprocal privileges extended to nonresident licensees--Licensees fromstates not granting full reciprocity.
Section 36-21A-55 - Transaction of business subjects nonresidents to personal jurisdiction--Service of process--Delivery of copy of process or pleading to executivedirector.
Section 36-21A-56 - Written notice of change of association--Statement of registration--Salesmanplaced on inactive status.
Section 36-21A-57 - Cancellation of salesperson's or broker associate's license upon unreportedchange of association.
Section 36-21A-58 - Renewal of license by salesperson or broker associate without employingbroker--Restrictions on inactive salesperson or broker associate whose licensehas been renewed.
Section 36-21A-59 - Disassociated salesperson or broker associate performing acts contemplatedby this chapter as misdemeanor.
Section 36-21A-60 - Additional fees.
Section 36-21A-61 - Biennial registration--Fee--Cancellation upon failure to register--Reinstatement.
Section 36-21A-62 - Biennial proof by licensees of continuing education--Persons exempt.
Section 36-21A-63 - Approved courses for continuing education--List maintained--Standards.
Sections 36-21A-64, 36-21A-65 - License renewal withheld until proof of continuing education presented. Exceptions to continuing education requirements
Section 36-21A-66 - Late renewal application--Fee.
Section 36-21A-67 - Licensees entering United States armed forces--Application forreinstatement--Timing and requirements--Waiver of continuing education.
Section 36-21A-68 - Grounds for revocation of license--Criminal prosecution--Setting minimumfees not impaired--Suspension, reprimand, and monetary penalties.
Section 36-21A-69 - Surrender of license to commission after suspension or revocation.
Section 36-21A-69.1 - Responsible broker to surrender associate licenses.
Section 36-21A-70 - Effect of suspension, revocation or other action taken against qualifyingbroker--Revocation or suspension of firm license.
Section 36-21A-71 - Acts constituting unprofessional conduct.
Section 36-21A-72 - Restrictions on licensee advertising.
Section 36-21A-73 - Repealed.
Section 36-21A-74 - Preservation of records.
Section 36-21A-75 - Closing statements to be furnished by brokers.
Section 36-21A-76 - Cobrokerage transaction--Money held in listing broker's trust account.
Section 36-21A-77 - Purchaser deposits in unconsummated transactions.
Section 36-21A-78 - Substantiation of information in listing agreement--Latent defects.
Section 36-21A-79 - Broker's responsibility for real estate activities of salesman and brokerassociates.
Section 36-21A-80 - Handling of money received by broker for principal.
Section 36-21A-81 - Disbursement pursuant to written agreement of trust funds where purchaseagreement does not close.
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.
Section 36-21A-83 - Documents kept by broker remitting immediately to principal.
Section 36-21A-84 - Completed transaction required for compensation of broker--Promulgationof rules for exceptions.
Section 36-21A-85 - Repealed.
Section 36-21A-86 - Procedure on revocation of license--Appeal.
Section 36-21A-87 - Violation of chapter as misdemeanor.
Section 36-21A-88 - Action for compensation of unlicensed persons prohibited.
Section 36-21A-89 - Promulgation of rules for administration and enforcement of this chapter.
Section 36-21A-89.1 - Repealed.
Section 36-21A-90 - Promulgation of rules establishing uniform standards of professionalappraisal practice.
Section 36-21A-91 - Injunction for unprofessional conduct--Election of criminal proceedings orinjunction.
Section 36-21A-92 - Definition of terms for §§ 36-21A-92 to 36-21A-100.
Section 36-21A-93 - Application for subdivision certificate--Fee--Contents--Additionalinformation.
Section 36-21A-94 - Proof by subdivider of ability to provide promised public improvements--Security.
Section 36-21A-95 - Investigation of application and inspection of out-of-state real estate--Expenses borne by applicant.
Section 36-21A-96 - Designation of executive director of commission as agent for service ofprocess.
Section 36-21A-97 - Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation.
Sections 36-21A-98, 36-21A-99 - Recording of instrument conveying interest in subdivision. Cease and desist orders to prevent subdivision sales provisions violations
Section 36-21A-100 - Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest.
Section 36-21A-101 - Establishment of real estate recovery fund--Purpose.
Section 36-21A-102 - Minimum balance in recovery fund--Separate fee payable to restore minimumbalance.
Section 36-21A-103 - Notice to commission of claims against recovery fund--Intervention bycommission.
Section 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--
Section 36-21A-105 - Facts to be shown at hearing by applicant for payment from recovery fund.
Section 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 actionwas contested by debtor.
Section 36-21A-108 - Defense by commission of action against recovery fund--Motion fordismissal--Compromise.
Section 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--Priorjudgment only prima facie evidence.
Section 36-21A-111 - Order for payment from recovery fund.
Section 36-21A-112 - Maximum liability of fund for acts of one licensee.
Section 36-21A-113 - Deferred payment of authorized claim--Interest.
Section 36-21A-114 - Suspension of license when payment from fund authorized--Repayment tofund required for reinstatement.
Section 36-21A-115 - Subrogation of fund to rights under judgment paid--Assignment.
Section 36-21A-116 - Other disciplinary powers unimpaired--Effect of repayment to fund.
Sections 36-21A-117, 36-21A-118 - Transferred
Section 36-21A-119 - Errors and omissions insurance required of salesmen and brokers.
Section 36-21A-120 - Group insurance coverage authorized--Independent errors and omissionscoverage.
Section 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 ofcoverage.
Section 36-21A-123 - Repealed.
Section 36-21A-124 - Employment status--Independent contractor.
Section 36-21A-125 - "Adverse material fact" defined.
Section 36-21A-126 - "Brokerage" defined.
Section 36-21A-127 - "Confidential information" defined.
Section 36-21A-128 - Informative acts that do not constitute representation.
Section 36-21A-129 - "Substantive contact" defined.
Section 36-21A-130 - Agency agreements--Requirements.
Section 36-21A-131 - Licensee--Limited relationships.
Section 36-21A-132 - Duties and obligations of licensee representing seller or landlord.
Section 36-21A-133 - Seller's or landlord's agent not to disclose certain information without expressauthority--Exceptions.
Section 36-21A-134 - Seller's agent has no fiduciary duty to customer.
Section 36-21A-134.1 - No duty to disclose sex offender information.
Section 36-21A-135 - Seller's agent may show other properties.
Sections 36-21A-136, 36-21A-137 - Duties and obligations of licensee representing buyer or tenant. Buyer's or tenant's agent not to disclose certain information without written authority--Exce
Section 36-21A-138 - Buyer's agent has no fiduciary duty to customer.
Section 36-21A-138.1 - No duty to volunteer sex offender information--Actual knowledge must bedisclosed upon inquiry.
Section 36-21A-139 - Buyer's agent may show property to competing clients.
Section 36-21A-140 - Licensee as limited agent--Written consent of all parties required--Duties andobligations.
Section 36-21A-141 - Certain information not to be disclosed by limited agent without writtenconsent.
Section 36-21A-141.1 - Appointment of licensee to act as appointed agent of client to exclusion ofother licensees--Limited agent--Information--Rules.
Section 36-21A-142 - Limited agent not to disclose certain information about one client to anotherwithout written authority--Exceptions.
Section 36-21A-143 - "Subagency" defined.
Section 36-21A-144 - Transaction broker--Duties and obligations.
Section 36-21A-145 - Transaction broker not responsible for--Independent inspections--Statementsby seller--Finances.
Section 36-21A-146 - Certain information not to be disclosed by transaction broker without writtenconsent.
Section 36-21A-147 - Office policies--Relationships--Written disclosure.
Section 36-21A-148 - Client, licensee not liable for misrepresentation made by the other--Exception.
Section 36-21A-149 - Duties under common law.
Section 36-21A-150 - Duties of broker or licensee after transaction finished.

State Codes and Statutes

State Codes and Statutes

Statutes > South-dakota > Title-36 > Chapter-21a

Section 36-21A-1 - Definition of terms.
Section 36-21A-2 - "Advertising" defined.
Section 36-21A-3 - "Appraisal" defined.
Section 36-21A-4 - "Appraiser" defined.
Section 36-21A-5 - "Association" defined.
Section 36-21A-6 - "Real estate broker" and "broker" defined.
Section 36-21A-7 - "Moral turpitude" defined.
Section 36-21A-8 - Repealed.
Section 36-21A-9 - "Inactive licensee" defined.
Section 36-21A-10 - "Property manager" defined.
Section 36-21A-11 - "Real estate" and "realty" defined.
Section 36-21A-12 - "Real estate salesperson" defined.
Section 36-21A-12.1 - "Residential rental agent" defined--Promulgation of rules for licensingrequirements.
Section 36-21A-13 - Real estate commission created--Composition.
Section 36-21A-14 - Terms of commission members--Vacancies.
Section 36-21A-15 - Quorum of commission.
Section 36-21A-16 - Commission continued within Department of Revenue and Regulation--Records and reports.
Section 36-21A-17 - Seal of commission.
Section 36-21A-18 - Employment of executive director--Bonds--Duties.
Section 36-21A-19 - Salary of executive director--Employment of other personnel--Expenditures.
Section 36-21A-20 - Office of executive director--Records and property maintained.
Section 36-21A-21 - Meetings of commission.
Section 36-21A-22 - Filing or notice to the commission--Date of filing or notice.
Section 36-21A-23 - Compensation and expenses of commission members.
Section 36-21A-24 - Real estate courses and institutes conducted by commission.
Section 36-21A-25 - Assistance provided to libraries, licensees, institutes and foundations.
Section 36-21A-26 - Publication of list of licensees--Other information included.
Section 36-21A-27 - Person acting as broker deemed to be broker within meaning of this chapter.
Section 36-21A-28 - Acting as a licensee without license as a misdemeanor.
Section 36-21A-29 - Persons and entities exempted from this chapter.
Section 36-21A-30 - Reputation, age, competence, and citizenship required for license--Priorrejection or revocation of license.
Section 36-21A-30.1 - Education requirement for broker associate license applicants.
Section 36-21A-30.2 - Post-licensing education requirement for broker associates.
Section 36-21A-31 - Experience and education required of applicant for responsible broker'slicense.
Section 36-21A-32 - Waiver of experience requirement on responsible broker applicant's refusalto associate--Relocation or acceptance of unfair contract not required.
Section 36-21A-33 - Denial of application.
Section 36-21A-34 - Repealed.
Section 36-21A-34.1 - Continuing education required of salesperson--Promulgation of rulesspecifying requirements--Exemption.
Section 36-21A-34.2 - Certain salespersons to apply for broker associate license.
Section 36-21A-35 - Application for license--Contents--Oath or affirmation.
Sections 36-21A-36, 36-21A-36.1 - Written examination--Time and place--Contents. Application for license--Time limit
Section 36-21A-37 - License required for real estate firm.
Section 36-21A-38 - Qualifying broker to sign firm's license application-- Termination ofqualifying broker's affiliation--Application fee.
Section 36-21A-39 - Dissolution of real estate firm--Return of firm license by qualifying broker.
Section 36-21A-40 - Partner or associate must be licensee--Non licensee as shareholder, directoror officer--Conditions.
Section 36-21A-41 - Qualification by examination required.
Section 36-21A-42 - Repealed.
Section 36-21A-43 - Examination reciprocity with other states.
Section 36-21A-44 - Issuance of license to successful applicant--Association with broker--Authority to conduct business.
Section 36-21A-45 - Suspension of license on disassociation from broker or firm.
Section 36-21A-46 - Restriction on substantial ownership of business or firm by licensedsalesperson or broker associate--Effective date.
Section 36-21A-46.1 - Broker, salesperson, or broker associate permitted to form certain businessentities--Conditions.
Section 36-21A-47 - Restricted broker's license--Termination and prosecution if licensee exceedsauthority.
Section 36-21A-48 - Exemption from property manager's license for operators of state and federalhousing units.
Section 36-21A-49 - Application fee for real estate salesperson's, broker associate's, broker's, orrestricted license.
Section 36-21A-50 - Conditions for issuing of license or reinstatement after revocation orsuspension.
Section 36-21A-51 - Broker's place of business--Licenses displayed--Property manager licenseexception.
Section 36-21A-52 - Registration of place of business--Business restricted to designated place--New license or inactive status on change of location.
Section 36-21A-53 - Branch office name.
Section 36-21A-54 - Reciprocal privileges extended to nonresident licensees--Licensees fromstates not granting full reciprocity.
Section 36-21A-55 - Transaction of business subjects nonresidents to personal jurisdiction--Service of process--Delivery of copy of process or pleading to executivedirector.
Section 36-21A-56 - Written notice of change of association--Statement of registration--Salesmanplaced on inactive status.
Section 36-21A-57 - Cancellation of salesperson's or broker associate's license upon unreportedchange of association.
Section 36-21A-58 - Renewal of license by salesperson or broker associate without employingbroker--Restrictions on inactive salesperson or broker associate whose licensehas been renewed.
Section 36-21A-59 - Disassociated salesperson or broker associate performing acts contemplatedby this chapter as misdemeanor.
Section 36-21A-60 - Additional fees.
Section 36-21A-61 - Biennial registration--Fee--Cancellation upon failure to register--Reinstatement.
Section 36-21A-62 - Biennial proof by licensees of continuing education--Persons exempt.
Section 36-21A-63 - Approved courses for continuing education--List maintained--Standards.
Sections 36-21A-64, 36-21A-65 - License renewal withheld until proof of continuing education presented. Exceptions to continuing education requirements
Section 36-21A-66 - Late renewal application--Fee.
Section 36-21A-67 - Licensees entering United States armed forces--Application forreinstatement--Timing and requirements--Waiver of continuing education.
Section 36-21A-68 - Grounds for revocation of license--Criminal prosecution--Setting minimumfees not impaired--Suspension, reprimand, and monetary penalties.
Section 36-21A-69 - Surrender of license to commission after suspension or revocation.
Section 36-21A-69.1 - Responsible broker to surrender associate licenses.
Section 36-21A-70 - Effect of suspension, revocation or other action taken against qualifyingbroker--Revocation or suspension of firm license.
Section 36-21A-71 - Acts constituting unprofessional conduct.
Section 36-21A-72 - Restrictions on licensee advertising.
Section 36-21A-73 - Repealed.
Section 36-21A-74 - Preservation of records.
Section 36-21A-75 - Closing statements to be furnished by brokers.
Section 36-21A-76 - Cobrokerage transaction--Money held in listing broker's trust account.
Section 36-21A-77 - Purchaser deposits in unconsummated transactions.
Section 36-21A-78 - Substantiation of information in listing agreement--Latent defects.
Section 36-21A-79 - Broker's responsibility for real estate activities of salesman and brokerassociates.
Section 36-21A-80 - Handling of money received by broker for principal.
Section 36-21A-81 - Disbursement pursuant to written agreement of trust funds where purchaseagreement does not close.
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.
Section 36-21A-83 - Documents kept by broker remitting immediately to principal.
Section 36-21A-84 - Completed transaction required for compensation of broker--Promulgationof rules for exceptions.
Section 36-21A-85 - Repealed.
Section 36-21A-86 - Procedure on revocation of license--Appeal.
Section 36-21A-87 - Violation of chapter as misdemeanor.
Section 36-21A-88 - Action for compensation of unlicensed persons prohibited.
Section 36-21A-89 - Promulgation of rules for administration and enforcement of this chapter.
Section 36-21A-89.1 - Repealed.
Section 36-21A-90 - Promulgation of rules establishing uniform standards of professionalappraisal practice.
Section 36-21A-91 - Injunction for unprofessional conduct--Election of criminal proceedings orinjunction.
Section 36-21A-92 - Definition of terms for §§ 36-21A-92 to 36-21A-100.
Section 36-21A-93 - Application for subdivision certificate--Fee--Contents--Additionalinformation.
Section 36-21A-94 - Proof by subdivider of ability to provide promised public improvements--Security.
Section 36-21A-95 - Investigation of application and inspection of out-of-state real estate--Expenses borne by applicant.
Section 36-21A-96 - Designation of executive director of commission as agent for service ofprocess.
Section 36-21A-97 - Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation.
Sections 36-21A-98, 36-21A-99 - Recording of instrument conveying interest in subdivision. Cease and desist orders to prevent subdivision sales provisions violations
Section 36-21A-100 - Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest.
Section 36-21A-101 - Establishment of real estate recovery fund--Purpose.
Section 36-21A-102 - Minimum balance in recovery fund--Separate fee payable to restore minimumbalance.
Section 36-21A-103 - Notice to commission of claims against recovery fund--Intervention bycommission.
Section 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--
Section 36-21A-105 - Facts to be shown at hearing by applicant for payment from recovery fund.
Section 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 actionwas contested by debtor.
Section 36-21A-108 - Defense by commission of action against recovery fund--Motion fordismissal--Compromise.
Section 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--Priorjudgment only prima facie evidence.
Section 36-21A-111 - Order for payment from recovery fund.
Section 36-21A-112 - Maximum liability of fund for acts of one licensee.
Section 36-21A-113 - Deferred payment of authorized claim--Interest.
Section 36-21A-114 - Suspension of license when payment from fund authorized--Repayment tofund required for reinstatement.
Section 36-21A-115 - Subrogation of fund to rights under judgment paid--Assignment.
Section 36-21A-116 - Other disciplinary powers unimpaired--Effect of repayment to fund.
Sections 36-21A-117, 36-21A-118 - Transferred
Section 36-21A-119 - Errors and omissions insurance required of salesmen and brokers.
Section 36-21A-120 - Group insurance coverage authorized--Independent errors and omissionscoverage.
Section 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 ofcoverage.
Section 36-21A-123 - Repealed.
Section 36-21A-124 - Employment status--Independent contractor.
Section 36-21A-125 - "Adverse material fact" defined.
Section 36-21A-126 - "Brokerage" defined.
Section 36-21A-127 - "Confidential information" defined.
Section 36-21A-128 - Informative acts that do not constitute representation.
Section 36-21A-129 - "Substantive contact" defined.
Section 36-21A-130 - Agency agreements--Requirements.
Section 36-21A-131 - Licensee--Limited relationships.
Section 36-21A-132 - Duties and obligations of licensee representing seller or landlord.
Section 36-21A-133 - Seller's or landlord's agent not to disclose certain information without expressauthority--Exceptions.
Section 36-21A-134 - Seller's agent has no fiduciary duty to customer.
Section 36-21A-134.1 - No duty to disclose sex offender information.
Section 36-21A-135 - Seller's agent may show other properties.
Sections 36-21A-136, 36-21A-137 - Duties and obligations of licensee representing buyer or tenant. Buyer's or tenant's agent not to disclose certain information without written authority--Exce
Section 36-21A-138 - Buyer's agent has no fiduciary duty to customer.
Section 36-21A-138.1 - No duty to volunteer sex offender information--Actual knowledge must bedisclosed upon inquiry.
Section 36-21A-139 - Buyer's agent may show property to competing clients.
Section 36-21A-140 - Licensee as limited agent--Written consent of all parties required--Duties andobligations.
Section 36-21A-141 - Certain information not to be disclosed by limited agent without writtenconsent.
Section 36-21A-141.1 - Appointment of licensee to act as appointed agent of client to exclusion ofother licensees--Limited agent--Information--Rules.
Section 36-21A-142 - Limited agent not to disclose certain information about one client to anotherwithout written authority--Exceptions.
Section 36-21A-143 - "Subagency" defined.
Section 36-21A-144 - Transaction broker--Duties and obligations.
Section 36-21A-145 - Transaction broker not responsible for--Independent inspections--Statementsby seller--Finances.
Section 36-21A-146 - Certain information not to be disclosed by transaction broker without writtenconsent.
Section 36-21A-147 - Office policies--Relationships--Written disclosure.
Section 36-21A-148 - Client, licensee not liable for misrepresentation made by the other--Exception.
Section 36-21A-149 - Duties under common law.
Section 36-21A-150 - Duties of broker or licensee after transaction finished.