An auctioneer must maintain copies of all agreements, listing contracts, handbills, advertisements, and other pertinent records, including closing statements if the auctioneer represented the seller through the closing of the transaction and any auction recordings whether audio, video, or audiovisual if the auction was recorded, for a period of four years. The records are subject to audit by the commission.

Source: 5 SDR 12, effective August 14, 1978; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 100, effective January 10, 1989; transferred from § 20:56:12:23, 20 SDR 18, effective August 16, 1993; 37 SDR 112, effective December 8, 2010.

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

Law Implemented: SDCL 36-21A-1 , 36-21A-6 , 36-21A-47 , 36-21A-83.