South Dakota § 36-21A-38 Responsible broker to represent corporation, limited liability company, partnership or association and sign application--Termination of affiliation--Fee.

South Dakota Statutes

§ 36-21A-38 — Responsible broker to represent corporation, limited liability company, partnership or association and sign application--Termination of affiliation--Fee.

South Dakota § 36-21A-38

Title 36PROFESSIONS AND OCCUPATIONS

Ch. 36-21REAL ESTATE LICENSING

This text of South Dakota § 36-21A-38 (Responsible broker to represent corporation, limited liability company, partnership or association and sign application--Termination of affiliation--Fee.) 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-38 (2026).

Text

No license may be granted to a corporation, limited liability company, partnership or association, unless the corporation, limited liability company, partnership, or association designates a responsible broker who will represent the corporation, limited liability company, partnership, or association. A nonlicensed individual may have an ownership interest in any corporation, limited liability company, partnership, or association through which a responsible broker engages in professional real estate activity. However, no nonlicensed individual may control or supervise the professional real estate activity of any real estate licensee associated with the firm. No nonlicensed individual may have any ownership interest in a sole proprietorship that engages in professional real estate activity. 

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No license may be granted to a corporation, limited liability company, partnership or association, unless the corporation, limited liability company, partnership, or association designates a responsible broker who will represent the corporation, limited liability company, partnership, or association. A nonlicensed individual may have an ownership interest in any corporation, limited liability company, partnership, or association through which a responsible broker engages in professional real estate activity. However, no nonlicensed individual may control or supervise the professional real estate activity of any real estate licensee associated with the firm. No nonlicensed individual may have any ownership interest in a sole proprietorship that engages in professional real estate activity. The responsible broker shall sign the application for the license. Upon the termination of a responsible broker's affiliation with the firm, the firm shall name a new responsible broker and notify the commission in writing. The application fee for a firm license shall be set out by rule, promulgated by the commission pursuant to chapter 1-26 , and may not exceed one hundred dollars.