South Dakota Administrative Code

Rule 20:69:12:36 Unprofessional conduct. 20:69:12:36. Unprofessional conduct. A developer or agent of time-share plans or units may not do any of the following: (1) Use a promotional device without fully disclosing that the device is being used for the purpose of soliciting sales…

Rule 20:69:12:37 Cause for suspension or revocation. 20:69:12:37. Cause for suspension or revocation. The commission may suspend or revoke a registration by a developer, agent, or plan manager for violation by the registrant or its employees of any of the provisions of this chapt…

Rule 20:69:13:01 Definition of time-share agent. 20:69:13:01. Definition of time-share agent. A time-share agent is a person who works for another person for compensation and performs at least one of the following functions: (1) Directly or indirectly lists, sells, exchanges, buy…

Rule 20:69:13:02 Time-share agents -- License required. 20:69:13:02. Time-share agents -- License required. Persons who act as time-share agents within this state must be licensed according to this chapter and must comply with the provisions of this chapter. Source: 10 SDR 68, ef…

Rule 20:69:13:03 OPC exempt from licensing. 20:69:13:03. OPC exempt from licensing. An outside public contact is exempt from licensing under this chapter. Source: 10 SDR 121, adopted May 17, 1984, retroactively effective January 1, 1984; 12 SDR 151, 12 SDR 155, effective July 1, …

Rule 20:69:13:04 Persons and organizations exempt from licensing or examination. 20:69:13:04. Persons and organizations exempt from licensing or examination. Real estate brokers are exempt from licensing under this chapter. A real estate broker or salesperson may obtain a time-sh…

Rule 20:69:13:05 Application. 20:69:13:05. Application. An applicant for a time-share agent's license shall file an application on a form provided by the commission. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, eff…

Rule 20:69:13:06 Application fee. 20:69:13:06. Application fee. The application fee for a time-share agent's license is $225. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 16 SDR 36, effective August 29, 1989; transferred from § 20:…

Rule 20:69:13:07 Repealed. 20:69:13:07. Photograph to accompany application.Repealed. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:21:06, August 16, 1993; repealed, 26 SDR 41, effective September 29, 1999.

Rule 20:69:13:08 Grounds for denial of license. 20:69:13:08. Grounds for denial of license. The commission may deny an application for a license or a renewal of a license on any of the following grounds: (1) The applicant has previously been convicted of a felony or of a misdemea…

Rule 20:69:13:09 Examination. 20:69:13:09. Examination. Any person, not otherwise exempted by this chapter, who meets the qualifications of this chapter must pass an examination for a time-share agent's license to be given by the commission at a time, place, and in a manner estab…

Rule 20:69:13:10 Authorization to take examination. 20:69:13:10. Authorization to take examination. A person may not take the time-share agent's examination unless authorized by the commission in writing to take the examination. Source: 10 SDR 68, effective January 1, 1984; 12 SD…

Rule 20:69:13:11 Repealed. 20:69:13:11. Failure to appear for examination.Repealed. 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; transferred from § 20:56:21:10, August 16, 1993; repealed, 26…

Rule 20:69:13:12 Administration of examination. 20:69:13:12. Administration of examination. The licensing examination must be conducted under the supervision of the executive director of the commission or a designee of the executive director. Identification supplied to the applic…

Rule 20:69:13:13 Cheating on examination. 20:69:13:13. Cheating on examination. The examination of an applicant for a time-share agent's license who is caught cheating during the examination must be declared void. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effectiv…

Rule 20:69:13:14 Results of examination. 20:69:13:14. Results of examination. The applicant must be notified in writing of the examination results. Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 198…

Rule 20:69:13:14.01 Rights to passing score. 20:69:13:14.01. Rights to passing score. Upon notification that a person has passed the time-share examination, a person has 60 days to apply for a time-share agent's license, or the passing score is forfeited. Source: 26 SDR 41, effec…

Rule 20:69:13:15 Biennial renewal fee. 20:69:13:15. Biennial renewal fee. The biennial renewal fee for a time-share agent's license is $125. 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; 13 S…

Rule 20:69:13:16 Cancellation of license upon failure to pay fee. 20:69:13:16. Cancellation of license upon failure to pay fee. Failure to remit the renewal fee or registration statement or both by the registration deadline automatically cancels the license of a time-share agent.…

Rule 20:69:13:17 Repealed. 20:69:13:17. Replacement of license and change of address. Repealed. 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; 18 SDR 101, effective December 17, 1991; transfer…

Rule 20:69:13:18 Trust account requirements. 20:69:13:18. Trust account requirements. All the requirements relating to trust accounts imposed by SDCL Chapter 36-21A or Article 20:69 upon real estate agents apply to time-share agents. Source: 10 SDR 68, effective January 1, 1984; …

Rule 20:69:13:19 Office requirements. 20:69:13:19. Office requirements. A time-share agent must have an office physically located in the state of South Dakota before transacting any sales of real estate located in the state of South Dakota. Source: 10 SDR 68, effective January 1,…

Rule 20:69:13:20 Auditing. 20:69:13:20. Auditing. The time-share agent must maintain all records of all sales transactions made within this state at the office required by § 20:69:13:19, and these records are subject to audit by the commission or its agents. Source: 10 SDR 68, ef…

Rule 20:69:13:21 Real estate law applicable. 20:69:13:21. Real estate law applicable. Unless inconsistent with this chapter and chapter 20:69:12, the real estate law contained in SDCL Chapter 36-21A and Article 20:69 applies to time-share agents. Source: 10 SDR 68, effective Janu…

Rule 20:69:13:22 Supervising agent. 20:69:13:22. Supervising agent. A developer must designate a real estate broker or time-share agent licensed in South Dakota as the supervising agent who has general superintending control over all time-share agents employed in South Dakota by …

Rule 20:69:14:01 Property manager license. 20:69:14:01. Property manager license. The property manager license is a restricted broker's license pursuant to SDCL 36-21A-47. Source: 15 SDR 100, effective January 10, 1989; transferred from § 20:56:22:02, 20 SDR 18, effective August …

Rule 20:69:14:02 Persons to whom license law applicable. 20:69:14:02. Persons to whom license law applicable. A person may not act as a property manager in this state unless the person holds a property manager license pursuant to this chapter or otherwise complies with the provis…

Rule 20:69:14:02.01 Qualifications of applicants. 20:69:14:02.01. Qualifications of applicants. An applicant for a property manager's license, in addition to the other requirements in SDCL chapter 36-21A, shall furnish evidence of completion of 40 hours of education within the tw…

Rule 20:69:14:03 Exemptions from examination. 20:69:14:03. Exemptions from examination. A real estate broker may obtain a property manager license without an examination. A broker associate may manage property independently of a responsible broker if the broker associate has fulf…

Rule 20:69:14:04 Trust account requirements. 20:69:14:04. Trust account requirements. All of the requirements relating to trust accounts imposed by SDCL Chapter 36-21A or this article on real estate brokers apply to property managers. Source: 15 SDR 100, effective January 10, 198…

Rule 20:69:14:05 Auditing. 20:69:14:05. Auditing. The property manager must maintain all records of all South Dakota transactions at the property manager's office. These records are subject to audit by the commission or its agents. Source: 15 SDR 100, effective January 10, 1989; …

Rule 20:69:14:06 Contracts to be in writing. 20:69:14:06. Contracts to be in writing. Before a property manager performs any services, the property manager and client must enter into a written management agreement specifying the duties and conditions under which the property mana…

Rule 20:69:14:07 Full disclosure required. 20:69:14:07. Full disclosure required. In all dealings between a client and property manager, the property manager must inform the client of all liabilities, costs, and other financial obligations that may be incurred by the client if th…

Rule 20:69:14:08 Real estate law applicable. 20:69:14:08. Real estate law applicable. Unless inconsistent with this chapter, the real estate law contained in SDCL Chapter 36-21A and this article applies to property managers. Source: 15 SDR 100, effective January 10, 1989; transfe…

Rule 20:69:14:09 Powers of commission in disciplinary matters. 20:69:14:09. Powers of commission in disciplinary matters. The commission shall discipline a property manager in the same manner as it disciplines a licensed real estate broker or salesperson. Source: 15 SDR 100, effe…

Rule 20:69:14:10 Broker subject to chapter. 20:69:14:10. Broker subject to chapter. A real estate broker who acts as a property manager is subject to the provisions of this chapter. Source: 15 SDR 100, effective January 10, 1989; transferred from § 20:56:22:35, 20 SDR 18, effecti…

Rule 20:69:14:11 Financial obligations and records. 20:69:14:11. Financial obligations and records. A property manager must deposit all security deposits, damage deposits, advance fees, and rental proceeds received in a federally insured financial institution and must make a full…

Rule 20:69:14:12 Property management accounting. 20:69:14:12. Property management accounting. A property manager shall prepare and maintain a receipts and disbursements journal or a check register for each trust account. Tenant security deposits must be maintained as a separate b…

Rule 20:69:14:13 Required continuing education during initial biennial licesning cycle. 20:69:14:13. Required continuing education during initial biennial licensing cycle. Any property manager licensed after January 1, 2019 shall provide to the commission proof of participation i…

Rule 20:69:14.01:01 Residential rental agent license. 20:69:14.01:01. Residential rental agent license. The residential rental agent license is a restricted broker's license pursuant to SDCL 36-21A-47. Source: 27 SDR 7, effective August 3, 2000. General Authority:SDCL 36-21A-12.1…

Rule 20:69:14.01:02 Persons to whom license law applicable. 20:69:14.01:02. Persons to whom license law applicable. A person may not act as a residential rental agent in this state unless the person holds a residential rental agent license pursuant to this chapter or is a real es…

Rule 20:69:14.01:03 Application for license. 20:69:14.01:03. Application for license. An applicant for a residential rental agent license must file an application on a form provided by the commission. Source: 27 SDR 7, effective August 3, 2000. General Authority:SDCL 36-21A-12.1.…

Rule 20:69:14.01:04 Application fee. 20:69:14.01:04. Application fee. The application fee for a residential rental agent license is $60. Source: 27 SDR 7, effective August 3, 2000. General Authority:SDCL 36-21A-49. Law Implemented:SDCL 36-21A-12.1.

Rule 20:69:14.01:05 Qualifications for license. 20:69:14.01:05. Qualifications for license. A person may obtain a residential rental agent license without education or examination upon approval of the application by the commission and payment of the fee. Source: 27 SDR 7, effecti…

Rule 20:69:14.01:06 Supervision of residential rental agent. 20:69:14.01:06. Supervision of residential rental agent. A person who holds a residential rental agent license must be under the direct supervision of a property manager or a real estate broker licensed by the commissio…

Rule 20:69:14.01:07 Signing of leases by residential rental agent, if authorized. 20:69:14.01:07. Signing of leases by residential rental agent, if authorized. A residential rental agent may sign leases if authorized by the broker or property manager with whom the residential ren…

Rule 20:69:14.01:08 Biennial renewal. 20:69:14.01:08. Biennial renewal. The biennial renewal fee for a residential rental agent license is $50. Source: 27 SDR 7, effective August 3, 2000. General Authority:SDCL 36-21A-12.1, 36-21A-61. Law Implemented:SDCL 36-21A-61.

Rule 20:69:14.01:09 Powers of commission in disciplinary matters. 20:69:14.01:09. Powers of commission in disciplinary matters. The commission shall discipline a residential rental agent in the same manner as it disciplines a licensed real estate broker or salesperson. Source: 27…

Rule 20:69:14.01:10 Biennial proof by residential rental agent of continuing education. 20:69:14.01:10. Biennial proof by residential rental agent of continuing education. A residential rental agent shall provide to the commission proof of participation in not less than 12 hours …

Rule 20:69:15:01 Definition of terms. 20:69:15:01. Definition of terms. For the purposes of this chapter, a "qualified insurance carrier" is an insurance carrier which maintains an A.M. Best financial size category of class VI or higher and is and will remain, for the policy term…