South Dakota License Law
In South Dakota, the 'recovery fund' administered by the Real Estate Commission is designed to:
AFund the SDREC's operating expenses
BCompensate parties who have suffered financial harm from a licensed real estate agent's fraudulent or incompetent acts after exhausting other remedies✓ Correct
CProvide grants to first-time homebuyers
DReimburse agents for unpaid commissions
Explanation
South Dakota's real estate recovery fund provides a last-resort source of compensation for individuals who have suffered financial losses due to fraudulent, incompetent, or dishonest acts by a licensed real estate agent, after court judgment against the licensee has been obtained and other collection efforts exhausted.
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