South Dakota Administrative Code

Rule 20:69:11:05 Exceptions and extensions. 20:69:11:05. Exceptions and extensions. The commission may exempt a nonresident licensee from the continuing education requirements if the licensee meets the requirements of SDCL 36-21A-54 and § 20:69:03:22.01. Source: 5 SDR 12, effecti…

Rule 20:69:11:06 Nonqualifying courses. 20:69:11:06. Nonqualifying courses. The following courses do not qualify for postlicensing or continuing education purposes: (1) Courses in mechanical office and business skills, such as typing, keyboarding, speed-reading, memory improvemen…

20:69:11:07. Criteria for post-licensing or continuing education course approval. The commission may approve any course, seminar, conference, or equivalent that is provided by the commission, or by a public or private school, organization, association, person, corporation, societ…

Rule 20:69:11:07.01 Criteria for distance education or independent study course approval. 20:69:11:07.01. Criteria for distance education or independent study course approval. The commission may approve any course that is provided by the commission, a public or private school, or…

Rule 20:69:11:08 Application for approval of classroom instruction -- Fee required. 20:69:11:08. Application for approval of classroom instruction -- Fee required. An application for approval of classroom instruction shall be on a form provided by the commission. The application …

Rule 20:69:11:08.01 Application for approval of distance education or independent study courses -- Fee required. 20:69:11:08.01. Application for approval of distance education or independent study courses -- Fee required. An application for approval of a distance education or ind…

Rule 20:69:11:08.02 Additional requirements for distance education courses. 20:69:11:08.02. Additional requirements for distance education courses. In addition to the requirements of § 20:69:11:08.01, an application for approval of a distance education course must include the fol…

Rule 20:69:11:08.03 Student certification required. 20:69:11:08.03. Student certification required. Any school offering an approved distance education or independent study course must obtain from each student a statement attesting that all assignments and examinations completed a…

Rule 20:69:11:08.04 Classroom, distance education, and independent study course application fees -- Postlicensing course as continuing education course subject to application fee. 20:69:11:08.04. Classroom, distance education, and independent study course application fees -- Post…

Rule 20:69:11:09 Approval of out-of-state courses. 20:69:11:09. Approval of out-of-state courses. If a South Dakota licensee enrolls in a continuing education course approved by another state's real estate regulatory agency, that course may be used to meet postlicensing or contin…

Rule 20:69:11:10 ARELLO certified courses approved for postlicensing or continuing education. 20:69:11:10. ARELLO certified courses approved for postlicensing or continuing education. The commission may approve courses certified by the Association of Real Estate License Law Offic…

Rule 20:69:11:11 Certificate of approval. 20:69:11:11. Certificate of approval. The commission shall grant a certificate of approval for each course approved by the commission. The certificate remains valid for three years. A certificate of approval for a seminar course shall be …

Rule 20:69:11:11.01 Course accreditation renewal. 20:69:11:11.01. Course accreditation renewal. The course provider of a postlicensing or continuing education course must apply for renewal of the course prior to the date of expiration of the certificate of approval. Source: 29 SD…

Rule 20:69:11:11.02 Course accreditation reinstatement. 20:69:11:11.02. Course accreditation reinstatement. A course approval that has expired may be reinstated if a renewal application is filed within six months of the date of expiration. A course provider must file a new applic…

Rule 20:69:11:12 Material change. 20:69:11:12. Material change. A course provider of each approved real estate course shall immediately notify the commission of any material changes contained in the application for approval or in the attached exhibits. A course provider may seek …

Rule 20:69:11:13 Denial of approval for a course or instructor. 20:69:11:13. Denial of approval for a course or instructor. The commission may deny approval of a real estate course or instructor if it is determined that either is not in compliance with SDCL chapter 36-21A and thi…

Rule 20:69:11:13.01 Withdrawal of approval for a course or instructor. 20:69:11:13.01. Withdrawal of approval for a course or instructor. If the commission at any time determines that a course or an instructor approved pursuant to chapter 20:69:11 is not continuing to meet the re…

Rule 20:69:11:14 Same or duplicate courses. 20:69:11:14. Same or duplicate courses. Credit for a course may be given only once to an individual during a reporting period. Source: 5 SDR 12, effective August 21, 1978; 10 SDR 54, effective December 5, 1983; 12 SDR 151, 12 SDR 155, e…

Rule 20:69:11:15 Repealed. 20:69:11:15. School fees.Repealed. Source: 5 SDR 12, effective August 21, 1978; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:19:16, 20 SDR 18, effective August 16, 1993; repealed, 23 S…

Rule 20:69:11:16 Repealed. 20:69:11:16. Notice. Repealed. Source: 5 SDR 12, effective August 21, 1978; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:19:17, 20 SDR 18, effective August 16, 1993; 26 SDR 41, effecti…

Rule 20:69:11:17 Facilities. 20:69:11:17. Facilities. Each course provider must have the classrooms, facilities, equipment, and personnel necessary to implement the course. Source: 5 SDR 12, effective August 21, 1978; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred fr…

Rule 20:69:11:17.01 Schedule. 20:69:11:17.01. Schedule. The course provider shall provide a schedule of all courses, including the date, time, and place where they will be offered to the commission before the courses begin. Source: 28 SDR 28, effective September 2, 2001. General …

Rule 20:69:11:18 Auditing. 20:69:11:18. Auditing. The commission or its representatives may audit courses. Source: 5 SDR 12, effective August 21, 1978; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:19:19, 20 SDR …

Rule 20:69:11:19 Postlicensing or continuing education certificate of attendance. 20:69:11:19. Postlicensing or continuing education certificate of attendance. A course provider shall provide an individual certificate of attendance to each licensee upon completion of the approved…

Rule 20:69:11:19.01 Course provider reporting requirements -- Course evaluation. 20:69:11:19.01. Course provider reporting requirements -- Course evaluation. The course provider must submit a list of participants to the commission within ten days after completion of a course. The…

Rule 20:69:11:20 Preregistration allowed -- Notice of cancellation required. 20:69:11:20. Preregistration allowed -- Notice of cancellation required. A course provider offering approved continuing education courses may require preregistration with a cutoff date for permission to …

Rule 20:69:11:21 Limit on independent study courses. 20:69:11:21. Limit on independent study courses. No more than six hours of independent study courses may be used in any one period to fulfill continuing education requirements. Source: 15 SDR 100, effective January 10, 1989; tr…

Rule 20:69:11:22 Instructors. 20:69:11:22. Instructors. No instructor may teach postlicensing or continuing education courses unless approved, by name, by the commission. This section does not apply to guest speakers as provided for in § 20:69:11:24. Source: 28 SDR 28, effective …

Rule 20:69:11:23 Application for approval of classroom instructors -- Guest speakers exempt. 20:69:11:23. Application for approval of instructors -- Guest speakers exempt. An applicant for instructor approval shall apply on a form provided by the commission. A guest speaker is ex…

Rule 20:69:11:24 Utilization of guest speakers -- Résumé to accompany course application. 20:69:11:24. Utilization of guest speakers -- Résumé to accompany course application. A course provider may utilize guest speakers with expertise in a particular area in any approved course …

Rule 20:69:11:25 Certificate of instructor approval -- Approval certificates not issued to guest speakers. 20:69:11:25. Certificate of instructor approval -- Approval certificates not issued to guest speakers. The commission shall grant a certificate of approval for each instruct…

Rule 20:69:12:01 Definitions. 20:69:12:01. Definitions. As used in this chapter: (1) "Agent" or "time-share agent" means a time-share agent licensed by the commission under SDCL 36-21A-47; (2) "Commission" means the South Dakota Real Estate Commission; (3) "Developer" means a per…

Rule 20:69:12:02 Registration of time-share estates. 20:69:12:02. Registration of time-share estates. All applications for registration of time-share estates must be on forms approved by the commission. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December …

Rule 20:69:12:03 Registration fee. 20:69:12:03. Registration fee. Applications for registration must be accompanied by a fee of $25 for each time-share unit. The total fee may not exceed $1,000. The fee is payable in advance and must be made to the commission. Source: 10 SDR 68, …

Rule 20:69:12:04 Inspection fee. 20:69:12:04. Inspection fee. The inspection fee required by SDCL 43-15B-5 including actual and necessary expenses shall accompany the application. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 1…

Rule 20:69:12:05 Disclosure statement. 20:69:12:05. Disclosure statement. An application for registration must include a disclosure statement. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; tr…

Rule 20:69:12:06 Encouragement to read the disclosure statement. 20:69:12:06. Encouragement to read the disclosure statement. The following must be printed on the bottom half of the face page of the disclosure statement, in centered boldface capital letters: THIS HANDBOOK IS PREP…

Rule 20:69:12:07 Additional disclosure statement requirements. 20:69:12:07. Additional disclosure statement requirements. In addition to the requirements prescribed in § 20:69:12:06, disclosure statements distributed to the public must meet the following requirements: (1) Provide…

Rule 20:69:12:08 Nonconforming disclosure statements. 20:69:12:08. Nonconforming disclosure statements. A disclosure statement not in conformance with the requirements of §§ 20:69:12:06 and 20:69:12:07 is void. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective D…

Rule 20:69:12:09 Offer, transfer, or disposal under a void statement. 20:69:12:09. Offer, transfer, or disposal under a void statement. An offer, transfer, or disposal of a time-share unit or plan made under a void disclosure statement is voidable at the option of the purchaser. …

Rule 20:69:12:10 Additional filings required. 20:69:12:10. Additional filings required. In addition to the application, fees, and disclosure statement, a developer shall file the following with the commission to register a time-share project: (1) A financial statement not more th…

Rule 20:69:12:11 Filing of option unacceptable. 20:69:12:11. Filing of option unacceptable. A developer who has only an option to purchase a property for a time-share plan may not file with the commission. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective Decemb…

Rule 20:69:12:12 Acquisition solicitation requirements for agents. 20:69:12:12. Acquisition solicitation requirements for agents. An agent, including the developer if it is also the agent, may not solicit or encourage others to attend a time-share sales presentation or to contact…

Rule 20:69:12:13 Sales solicitation requirements for agents. 20:69:12:13. Sales solicitation requirements for agents. An agent, including the developer if it is also the agent, may not sell or offer to sell an interest in a time-share plan for a developer if the time-share unit i…

Rule 20:69:12:14 Limitation on plan managers. 20:69:12:14. Limitation on plan managers. A plan manager, including the developer if it is also the plan manager, may not undertake the duties, responsibilities, and obligations of managing a time-share plan if the time-share unit is …

Rule 20:69:12:15 Renewal of time-share filings. 20:69:12:15. Renewal of time-share filings. A filing required by this chapter shall be renewed by December 31 of each year on a form prescribed by the commission. Failure to renew by the specified date will result in forfeiture of t…

Rule 20:69:12:16 Responsible managing employee -- Designation, duties, and change. 20:69:12:16. Responsible managing employee -- Designation, duties, and change. The commission may not accept the filing of a corporate time-share agent or corporate plan manager unless the corporat…