The South Dakota Real Estate Commission is considering adopting a new administrative rule regarding electronic signatures on listing agreements. Under SDCL Chapter 36-21A, which statement accurately describes the Commission's rulemaking authority?
Correct Answer
A) The Commission may promulgate rules through the administrative rulemaking process to implement and enforce the license law
Under SDCL 36-21A-6, the South Dakota Real Estate Commission has authority to promulgate rules through the state's administrative rulemaking process (governed by SDCL Chapter 1-26) to implement and enforce the license law. This allows the Commission to address evolving practices such as electronic signatures without requiring legislative action for every detail.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
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