How much does a $20,000 appraisal management company surety bond cost in Arkansas?
Arkansas appraisal management company (AMC) surety bonds cost $200 and are issued instantly. Simply click Buy Now to visit our secure bond checkout to purchase your bond online today. It only takes a few minutes to get bonded as an appraisal management company in Arkansas.
|Bond Type||Bond Amount||Cost|
|$20,000 Appraisal Management Company Bond||$20,000||$200|
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.
Or, choose your state from the list below:
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington D.C.
- West Virginia
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