20:14:05:05Acceptable experience.

Any of the following is acceptable appraisal experience: (1) Appraisal; (2) Appraisal review; (3) Appraisal consulting; and (4) Mass appraisal. For a real estate lending officer or a real estate broker, acceptable appraisal experience includes the actual performance of a real estate appraisal or appraisal review. Acceptable experience does not require that there be a client in a traditional sense (e.g., a client hiring an appraiser for a business purpose) in order for an appraisal to qualify. Appraisals completed without a traditional client can meet any portion of the total experience requirement.

Source: 18 SDR 36, effective August 25, 1991; 24 SDR 91, effective January 8, 1998; 32 SDR 109, effective December 27, 2005; 32 SDR 109, adopted December 7, 2005, effective January 1, 2008; 35 SDR 175, effective January 1, 2009; 40 SDR 121, effective January 7, 2014; 44 SDR 27, effective August 14, 2017; 49 SDR 25, effective September 18, 2022.