Filed as: Department of Labor and Regulation, Appraiser Certification Program Rulemaking
Appraisers and appraisal management companies in South Dakota will face several updated requirements to align with federal standards. New appraisers whose initial credential was issued within 185 days before September 30 of an odd-numbered year no longer need continuing education for that renewal cycle, while appraisal management companies must now submit registration applications and all required materials within 90 days or face expiration. Education course providers can now offer shortened 8-hour courses on valuation bias and fair housing (instead of the standard 15 hours) and have more flexible documentation options for seminar-format continuing education courses. Additionally, appraisal management companies must notify the department within 10 days of any ownership change involving a 10 percent or greater stake and reapply for registration during that window, or their current registration will be revoked.
AI-generated from the proposed rule text — verify against the official documents.
Rulemaking to ensure compliance with applicable federal standards and clarify existing rules.
No specific cites listed — see the package documents.
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