No real estate appraiser with an interest in a real estate transaction or the financing of any loan secured by real estate involving an appraisal assignment may improperly influence or attempt to improperly influence the development, reporting, result, or review of a real estate appraisal by:

(1) Coercion, extortion, or bribery;

Terms Used In South Dakota Codified Laws 36-21B-11

  • Appraisal: A determination of property value.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2

(2) Withholding or threatened withholding of payment for an appraisal fee;

(3) Conditioning of the payment of an appraisal fee upon the opinion, conclusion, or valuation to be reached;

(4) Requesting that the appraiser report a predetermined opinion, conclusion, or valuation or the desired valuation of any person; or

(5) Any other act or practice that impairs or attempts to impair an appraiser’s independence, objectivity, and impartiality.

A violation of this section may constitute grounds for discipline against a real estate appraiser who is registered, licensed, or certified pursuant to the laws of the State of South Dakota.

Source: SL 2009, ch 192, § 1.

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