A restricted broker's license, referred to in this chapter as an auctioneer's license, is required for any person not licensed as a real estate broker who is acting as a real estate auctioneer. A real estate salesperson or broker associate acting under the auspices and supervision of a licensed real estate broker may sell real estate at auction without an auctioneer's license. A real estate broker may obtain an auctioneer's license without examination.

Source: 1 SDR 33, effective January 1, 1975; 3 SDR 34, effective November 3, 1976; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:12:01, 20 SDR 18, effective August 16, 1993; 23 SDR 110, effective January 9, 1997; 26 SDR 41, effective September 29, 1999; 29 SDR 48, effective October 10, 2002.

General Authority: SDCL 36-21A-47 , 36-21A-89(7).

Law Implemented: SDCL 36-21A-47 , 36-21A-12.