§ 20:69:08:08

ARSD 20:69:08:08

No advance fee.

Effective Sep 29, 199926 SDR 41Source: 4 SDR 71, effective April 30, 1978; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 100, effective January 10, 1989; transferred from § 20:56:17:36, 20 SDR 18, effective August 16, 1993; 26 SDR 41, effective September 29, 1999. | General Authority: SDCL 36-21A-89(8). | Law Implemented: SDCL 36-21A-30 , 36-21A-47 , 36-21A-84.

A real estate broker acting as a mortgage broker may not accept compensation in advance from a potential borrower for the procurement of a loan.

Source: 4 SDR 71, effective April 30, 1978; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 15 SDR 100, effective January 10, 1989; transferred from § 20:56:17:36, 20 SDR 18, effective August 16, 1993; 26 SDR 41, effective September 29, 1999.

General Authority: SDCL 36-21A-89(8).

Law Implemented: SDCL 36-21A-30 , 36-21A-47 , 36-21A-84.