Arkansas Appraisal Management Company Bond

Why do I need this bond?

The Arkansas Appraiser Licensing and Certification Board a requires appraisal management companies to have a $20,000 surety bond prior to conducting business in the state.

Arkansas appraisal management company surety bonds ensure that the principal (appraisal management company) complies with the Uniform Standards of Professional Appraisal Practice and Code of Ethics and the Arkansas Appraiser Licensing and Certification Act (A.C.A. 17-14-401 et seq.). Specifically, Arkansas AMC surety bonds prevent an employee, director, officer or agent of an appraisal management company from improperly influencing or attempting to improperly influence the development, reporting, result or review of a real estate appraisal.

What’s the fine print?

Arkansas AMC bonds are renewed annually for the length of the license unless canceled by the surety. If the surety chooses to cancel the bond, a written notice of cancellation must be submitted to the appraisal management company and the Arkansas Appraiser Licensing and Certification Board 60 days prior to cancellation.

How to become an appraisal management company in Arkansas

In-state applicants must designate a controlling person to contract with independent appraisers and clients for appraisal services. Non-resident applicants must provide a certificate of authority.

The following documents must be included in a complete application:

• General application form AMR-1
• Agent for services of process
• Surety bond on appropriate form
• All necessary certifications
• Initial application fee or renewal of registration fee

Appraisal Management Company Bonds Nationwide

Many appraisal management companies are licensed to work in multiple states, meaning they are must adhere to different license and bonding requirements. For more information about appraisal management company bonds in other states, visit the SuretyBonds.com Guide to Appraisal Management Company Bonding or select a state from the list below to view each state’s AMC bond requirements.

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Additional Resources

Arkansas Appraiser Licensing and Certification Board

Arkansas Appraiser Licensing and Certification Board Arkansas Appraisal Management Company Application for Registration (with bond form)

State of Arkansas Appraiser Licensing and Certification Board Appraisal Management Company Rules and Regulations

State of Arkansas Appraiser Licensing and Certification Board Appraisal Management Company Statutes