Department of Labor and Revenue

Title - South Dakota Appraiser Certification Program

Appraisal Management Company Registration Program

The State of South Dakota's Appraisal Management Company Registration Program was established in accordance with legislation enacted during the 2011 South Dakota Legislative Session. The Program accepts applications to register Appraisal Management Companies in this state. Any appraisal management company doing business in the State of South Dakota on or after January 1, 2012 is required to be duly registered or cease business until registered.

Important Announcement

Read an important announcement about a requirement effective July 1, 2014 for Appraisal Management Companies to maintain a surety bond or irrevocable letter of credit.

Regulatory Authority

South Dakota Codified Law 36-21D effective July 1, 2011
Administrative Rule of South Dakota 20:77 effective September 20, 2011

Please review these documents to ensure compliance.

Definition of Appraisal Management Company (AMC)

You are an AMC if you perform any of the following:

  1. Recruit, select, and retain appraisers.
  2. Contract with licensed or certified appraisers to perform appraisal assignments.
  3. Manage the process of having an appraisal performed, including providing administrative duties including:
    1. Receiving appraisal orders and appraisal reports;
    2. Submitting completed appraisal reports to creditors and underwriters;
    3. Collecting fees from creditors and underwriters for services provided; or
    4. Reimbursing appraisers for services performed.
  4. Review and verify the work of appraisers for compliance with the Uniform Standards of Professional Appraisal Practice.

Application

Submit the following:

Registration Term

The registration term is January 1 through December 31 of each year.

Renewal

Submit the following by November 15 of each year beginning November 15, 2012:

The renewal application will be mailed to all registered appraisal management companies on or around October 1 of each year. An appraisal management company may renew the registration at any time prior to three months after its date of expiration; however, there is a late renewal penalty fee.

Change of Address, Designated Officer or Controlling Person

The Appraiser Certification Program must be notified, in writing, within five days of a change of address, designated officer or controlling person.

For information or assistance, please contact Sherry Bren using the contact information below.

Exemptions from Appraisal Management Company Registration

See a list of those exempt from registration as an Appraisal Management Company.

Contact Us

Executive Director, Sherry Bren

South Dakota Appraiser Certification Program
308 South Pierre Street
Pierre, SD 57501
Phone: 605.773.4608
Fax: 605.773.5405
email: appraisercertification@state.sd.us

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Marcia Hultman, Secretary
700 Governors Drive
Pierre, SD 57501-2291
Tel. 605.773.3101
Fax. 605.773.6184