Colorado Appraisal Management Company Bond
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How much does a $25,000 appraisal management company surety bond cost in Colorado?
Colorado appraisal management company bonds are issued instantly and cost just $250. Simply click Buy Now to visit our secure bond checkout to purchase your bond online today. In just a few minutes, you can be on your way to being bonded as an appraisal management company in Colorado.
Why do I need this bond?
Appraisal management companies—or AMCs—in Colorado must post a $25,000 surety bond with the Department of Regulatory Agencies - Division of Real Estate.
Colorado AMC bonds ensure that principals (appraisal management companies) comply with all provisions of the law. This includes paying damages consumers suffer as a result of the principal’s acts of fraud, forgery, criminal impersonation, or fraudulent impersonation while conducting business as an appraisal management company or any other occupation which requires licensure as an appraisal management company.
What’s the fine print?
Colorado appraisal management company bonds remain valid for one year from the effective date and must be renewed annually. The surety can cancel this bond at any time by giving 30 days’ written notice of cancellation to both the appraisal management company and the Colorado Division of Real Estate.
How to become an appraisal management company in Colorado
In addition to posting a surety bond, Colorado appraisal management companies must do the following to become licensed:
- Submit fingerprints for controlling appraiser (CA) of AMC and any person who has, either directly or indirectly, more than 10% ownership interest in AMC
- Complete and submit AMC license application
- Determine ownership of AMC
- Obtain surety bond
- Register with Colorado Secretary of State Registration
Licenses expire December 31 of the year of issue. Applicants should be prepared to renew the issued license by the end of the year of issue.
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, visit the SuretyBonds.com Guide to Appraisal Management Company Bonding or use the list below to view each state’s AMC bond requirements:
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
