The regulated institution shall make the final determination as to the complexity of the appraisal. If during the course of the appraisal a state-licensed appraiser identifies factors that would cause the property, form of ownership, the property characteristics or market conditions to be atypical, then either the regulated institution may ask the state-licensed appraiser to complete the appraisal and have a state-certified general appraiser or state-certified residential appraiser approve and cosign the appraisal or the institution may engage a state-certified general appraiser or state-certified residential appraiser to complete the appraisal.

Source: 18 SDR 36, effective August 25, 1991; 23 SDR 113, effective January 17, 1997; 38 SDR 116, effective January 10, 2012.

General Authority: SDCL 36-21B-3.

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