S.D. Codified Laws § 36-21A-144

Current through the 2024 Legislative Session
Section 36-21A-144 - Transaction broker-Duties and obligations

Any licensee acting as a transaction broker has the following duties and obligations:

(1) To perform the terms of any written agreement made with the customer;
(2) To exercise reasonable skill and care for the customer;
(3) To present all offers in a timely manner;
(4) To account in a timely manner for all money and property received;
(5) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances including fair housing and civil rights statutes or regulations; and
(6) To disclose to the customer all adverse material facts known by the licensee.

No licensee acting as a transaction broker may advise any party to a transaction to the detriment of another party.

SDCL 36-21A-144

SL 1998, ch 229, §21.