How much does an AMC surety bond cost in Colorado?
Appraisal management companies in Colorado must post a $25,000 surety bond.
SuretyBonds.com offers Colorado appraisal management company bonds for just $250. Because no credit check is required, everyone qualifies for this low rate! Simply click the Buy Now button below to visit our secure payment portal to purchase your bond online today.
|Bond Type||Bond Amount||Cost|
|$25,000 Appraisal Management Company Bond||$25,000||$250|
Why do I need this bond?
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 1 year from the effective date. The surety can cancel this bond at any time by giving 30 days written notice of cancellation to the AMC 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 get licensed:
- submit fingerprints for the controlling appraiser (CA) of the AMC and any person who has, either directly or indirectly, a more than 10% ownership interest in the AMC
- complete and submit an AMC license application
- determine ownership of the AMC
- post a surety bond in the correct amount
- register with the Colorado Secretary of State Registration
- and more
Licenses expire December 31st of the year of issue. Applicants should be prepared to renew the issued license by the end of the year of issue.
More licensing information can be accessed from the Important Links section of this page.
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