If an aggrieved person is awarded a judgment against a real estate licensee for violation of the South Dakota license act, what is the maximum recovery amount from the recovery fund?

The correct answer, which states that the maximum recovery amount from the recovery fund in South Dakota is $15,000, reflects the state's intention to provide a level of financial protection for consumers who suffer losses due to the misconduct of real estate licensees. This amount serves as a cap on the compensation that can be sought by an aggrieved party who has obtained a judgment against a licensee for specific violations, ensuring there is a safety net for those who may have been adversely affected by the actions of a real estate professional operating outside of the legal guidelines.

The recovery fund is designed to promote accountability within the real estate profession by allowing aggrieved individuals to secure financial restitution when they have a legitimate claim against a licensee. The stipulated cap of $15,000 helps to manage the fund's financial stability while still providing a meaningful remedy for harmed individuals. Understanding this limit is important for both licensees and potential claimants, as it outlines the potential recourse available in situations of fraud, misrepresentation, or other infractions.

In this context, the other amounts listed would not align with the established regulations in South Dakota regarding the recovery fund. Each differential amount reflects different legal frameworks or scenarios but does not pertain directly to the specific provisions outlined in