Each federal financial institution's regulatory agency may establish a threshold level at or below which a certified or licensed appraiser is not required to perform appraisals in connection with real estate-related financial transactions. The threshold levels established by each federal financial institution's regulatory agency are as follows:

1. (1) National Credit Union Administration, 12 CFR § 722.3 (April 30, 2020);
2. (2) OCC, 12 C.F.R. § 34.43 (April 17, 2020);
3. (3) FDIC, 12 C.F.R. § 323.3 (April 17, 2020);
4. (4) Fed, 12 C.F.R. § 225.63 (April 17, 2020).

Source: 18 SDR 36, effective August 25, 1991; 21 SDR 49, effective September 18, 1994; 23 SDR 113, effective January 12, 1997; 26 SDR 120, effective March 27, 2000; 29 SDR 99, effective January 15, 2003; 36 SDR 112, effective January 11, 2010; 38 SDR 116, effective January 10, 2012; 41 SDR 217, effective June 29, 2015 ; 47 SDR 71, effective December 14, 2020 .

General Authority: SDCL 36-21B-3(8).

Law Implemented: SDCL 36-21B-1 , 36-21B-3(8).

Prior versions effective: 2015-06-29, 2012-01-10.