20:77:03:06Change of ownership -- New application.

If a registered appraisal management company has a change of ownership that results in a new owner that holds ten percent or more interest or a change in ownership that increases an existing individual's total ownership to ten percent or more interest, the appraisal management company must apply in writing for a certificate of registration as a new appraisal management company under this article, pay the registration fee, and complete an irrevocable uniform consent to service of process on a form approved by the secretary. The application, application fee, and uniform consent to service of process must be received by the department within ten days following the change of ownership or the existing registration is revoked.

Source: 45 SDR 45, effective October 8, 2018; 53 SDR 43, effective October 15, 2026.