{"data":{"id":"us-sd/sdcl-36-21d-2","jurisdiction":"us-sd","citation":"SDCL § 36-21D-2","heading":"Appraisal management company defined.","body":"For the purposes of this chapter, the term, appraisal management company, means, in connection with valuing properties and collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets, that oversees a network or panel of more than fifteen certified or licensed appraisers in a state or twenty-five or more nationally within a given year to:\n(1) Recruit, select, and retain appraisers;\n(2) Contract with licensed or certified appraisers to perform appraisal assignments;\n(3) Manage the process of having an appraisal performed, including providing administrative duties including:\n(a) Receiving appraisal orders and appraisal reports;\n(b) Submitting completed appraisal reports to creditors and underwriters;\n(c) Collecting fees from creditors and underwriters for services provided; or\n(d) Reimbursing appraisers for services performed; or\n(4) Review and verify the work of appraisers for compliance with the Uniform Standards of Professional Appraisal Practice.","path":["TITLE 36. PROFESSIONS AND OCCUPATIONS","CHAPTER 36-21D. APPRAISAL MANAGEMENT COMPANIES"],"source_url":"https://sdlegislature.gov/Statutes/36-21D-2","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"6a826db9aacf82e94519b938dcc41c1cdea255e06a0184f932fb059e3b4c9734","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-36-21d-1","next":"us-sd/sdcl-36-21d-3"},"notice":"GroundRules: Original legal text. Not legal advice."}