South Dakota Statutes
§ 36-21B-2 — Definitions.
Terms used in this chapter mean:
(1)"Appraisal," the act or process of developing an opinion of value of real estate for another and for compensation;
(2)"Appraisal practice," any valuation service, including appraisal, appraisal review, or appraisal consulting, performed by a person acting as an appraiser;
(3)"Evaluation," a valuation of real estate prepared for a federally insured depository institution for a transaction that, pursuant to regulations promulgated by one or more federal financial institution regulatory agency, qualifies for the appraisal threshold exemption, business loan exemption, or subsequent transaction exemption; and (4) "Federal financial institution regulatory agency," the Federal Deposit Insurance Corporation, National Credit Union Administration, O
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South Dakota § 36-21B-2 (Definitions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1995, ch 223, § 2; SL 2013, ch 180, § 2; SL 2020, ch 164, § 1.
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