ARSD 20:14:08:02. Steps to ensure independent judgment

If the only qualified persons available to perform an appraisal are involved in the lending, investment, or collection functions of the regulated institution, the regulated institution shall take steps to ensure that the appraisers exercise independent judgment and that the appraisal meets required standards. Such steps include prohibiting an individual from performing appraisals in which the appraiser is otherwise involved and prohibiting directors and officers from participating in any vote or approval involving assets on which they performed an appraisal.