South Dakota License Law
South Dakota's Real Estate Recovery Fund provides compensation to:
ABrokers who don't receive their commission
BMembers of the public who have been harmed by a licensed real estate agent's fraud or misconduct✓ Correct
CSDREC for its operating expenses
DProperty owners whose homes are damaged during showings
Explanation
The South Dakota Real Estate Recovery Fund compensates members of the public who have suffered monetary losses due to fraud or misrepresentation by a licensed real estate agent when a court judgment cannot be collected.
Related South Dakota South Dakota License Law Questions
- A South Dakota real estate license can be revoked for which of the following?
- Under SDCL 36-21A, what is the maximum period a South Dakota real estate license may be placed on inactive status?
- In South Dakota, which of the following is required for a real estate license application to be considered?
- Under South Dakota law, a broker who employs a salesperson must:
- What is the minimum passing score required on the South Dakota real estate licensing exam?
- What is the purpose of South Dakota's real estate licensing law?
- In South Dakota, a real estate licensee convicted of which of the following crimes would most likely result in license revocation?
- In South Dakota, a real estate salesperson license must be held under:
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