ENTITLED, An Act to exempt credit unions from the requirements to be licensed as real estate brokers.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 36-21A-29 be amended to read:
36-21A-29. This chapter does not apply to the following:
(1) Any person who as a bona fide owner or lessor, performs any of the acts described in §§ 36-21A-6 and 36-21A-12 with reference to property owned, or leased by the person, or to any regular employees thereof, if such acts are performed in the regular course of, or as an incident to the management of such property or investment in such property;
(2) Any public officer while performing the officer's duties;
(3) Any person owning and operating a cemetery and selling lots solely for use as burial plots;
(4) Any person acting as a receiver, trustee, personal representative, guardian or under court order, or while acting under authority of a deed, trust, or will;
(5) Any custodian, janitor, or employee of the owner or manager of a residential building who exhibits a residential unit therein to prospective tenants, accepts applications for leases and furnishes prospective tenants with information relative to the rental of the unit, terms and conditions of leases required by the owner or manager and similar information;
(6) Any owner, manager, or employee of a business holding a lodging license while engaging in the lodging business;
(7) Any attorney at law, admitted to practice in South Dakota, unless the attorney holds himself or herself out to be in the real estate business or solicits real estate business, in which event the attorney may obtain a real estate license without examination, but the attorney is otherwise subject to the provisions of this chapter;
(8) Any bank, bank holding company or subsidiary thereof, credit union, trust company, savings and loan association, public utility, or any land mortgage or farm loan association organized under the laws of this state or the United States, if engaged in the transaction of business within the scope of its corporate powers as provided by law;
(9) Any person or company whose business practice is to collect a fee or compensation to publish real estate listings in print, electronic, or other media;
(10) Any person holding, in good faith, a duly executed power of attorney from the owner, authorizing the final consummation and execution for the sale, purchase, leasing, or exchange of real property if such acts are not of a recurrent nature and done with the intention of evading this chapter; and
(11) Any employee of any person enumerated in this section whose principal duties are other than those duties described in §§ 36-21A-6 and 36-21A-12, if engaged in the specific performance of the employee's duties.
An Act to exempt credit unions from the requirements to be licensed as real estate brokers.
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I certify that the attached Act originated in the
HOUSE as Bill No. 1032
____________________________
Chief Clerk
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____________________________ Speaker of the House
____________________________ Chief Clerk
____________________________
President of the Senate
____________________________ Secretary of the Senate
House Bill No. 1032
File No. ____
Chapter No. ______ |
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Received at this Executive Office this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
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The attached Act is hereby approved this ________ day of ______________ , A.D., 20___
____________________________
Governor
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STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
____________________________ Secretary of State
By _________________________
Asst. Secretary of State
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