Appraisal Management Company Registration Program
The State of South Dakota's Appraisal Management Company Registration Program was established in accordance with legislation enacted during the 2011 South Dakota Legislative Session. The Program accepts applications to register Appraisal Management Companies in this state. Any appraisal management company doing business in the State of South Dakota on or after January 1, 2012 is required to be duly registered or cease business until registered.
Read an important announcement about a requirement for Appraisal Management Companies to maintain a surety bond or irrevocable letter of credit, which became effective July 1, 2014.
Please review these documents to ensure compliance.
Definition of Appraisal Management Company (AMC)
You are an AMC if you perform any of the following:
Submit the following:
The registration term is January 1 through December 31 of each year.
Submit the following between October 1 and November 15 of each year:
The renewal application will be mailed to all registered appraisal management companies on or around October 1 of each year.
The surety bond's effective dates must be from Jan. 1, 2016 through Dec. 31, 2016 or "continuous." If the ending date of the surety bond is "continuous," proof of continuation of the bond must be submitted for subsequent renewals.
An appraisal management company may renew the registration at any time prior to three months after its date of expiration; however, there is a late renewal penalty fee of $50.00 for each month or fraction of a month that has passed since the first day of January.
Change of Address, Designated Officer or Controlling Person
The Appraiser Certification Program must be notified, in writing, within five days of a change of address, designated officer or controlling person.
For information or assistance, please contact Sherry Been using the contact information below.
Exemptions from Appraisal Management Company Registration
Executive Director, Sherry Been
South Dakota Appraiser Certification Program
308 South Pierre Street
Pierre, SD 57501
em ail: appraiser certification@statuses
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