South Dakota § 36-21A-140 Licensee as limited agent--Written consent of all parties required--Duties and obligations.

South Dakota Statutes

§ 36-21A-140 — Licensee as limited agent--Written consent of all parties required--Duties and obligations.

South Dakota § 36-21A-140

Title 36PROFESSIONS AND OCCUPATIONS

Ch. 36-21REAL ESTATE LICENSING

This text of South Dakota § 36-21A-140 (Licensee as limited agent--Written consent of all parties required--Duties and obligations.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 36-21A-140 (2026).

Text

A licensee may act as a limited agent only with the informed written consent of all parties to the transaction. A limited agent is an agent for both the seller and the buyer and has the following duties and obligations:

(1)To perform the terms of any written agreement made with the client;

(2)To exercise reasonable skill and care for the client;

(3)To present all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease;

(4)To disclose to the client adverse material facts known by the licensee;

(5)To advise the client to obtain expert advice as to material matters about which the licensee knows but the specifics of whic

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A licensee may act as a limited agent only with the informed written consent of all parties to the transaction. A limited agent is an agent for both the seller and the buyer and has the following duties and obligations: (1) To perform the terms of any written agreement made with the client; (2) To exercise reasonable skill and care for the client; (3) To present all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease; (4) To disclose to the client adverse material facts known by the licensee; (5) To advise the client to obtain expert advice as to material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee; (6) To account in a timely manner for all money and property received; and (7) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations.