Louisiana AMC Bond Overview
- Purpose: To ensure appraisal management companies (AMCs) follow state rules and regulations
- Who Needs It: All real estate appraisal management companies licensed in Louisiana
- Regulating Body: The Louisiana Real Estate Appraisers Board (LREAB)
- Bond Amount: $20,000
- Premium Price: $200 for a 1-year term
What Is a Louisiana Appraisal Management Company Bond?
A Louisiana appraisal management company bond is a financial guarantee that AMCs will follow all license rules and obligations.
The Louisiana Real Estate Appraisal Board (LREAB) requires all AMCs to file a $20,000 surety bond to be licensed in the state. Under the surety bond, the state, clients, home buyers and lenders are protected for potential damages up to $20,000.
Who Needs an AMC Bond in Louisiana?
Typically, any entity that oversees a panel of 15+ licensed residential real estate appraisers in Louisiana or 25+ appraisers nationwide must be licensed and bonded.
How Much Do Appraisal Management Company Bonds Cost in Louisiana?
The $20,000 Louisiana AMC bond costs a flat rate of $200 for a 1-year term. Or, you can save 25% and get a 3-year term for $500. There is no credit check or application requirement. Buy your bond online today.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Louisiana AMC Bond Work?
A real estate appraisal management company bond creates a financial contract between three parties.
- Principal: The real estate AMC owner filing the bond
- Obligee: The Louisiana Real Estate Appraisers Board
- Surety: The issuing surety provider
By filing this bond, you agree to comply with all laws and regulations outlined in the AMC Licensing and Regulation Act.
If you break laws or don’t pay fees to the state, harmed parties can file bond claims. These are similar to insurance claims. However, the main difference is that you, as the principal, must repay the surety for paid claims.
The Louisiana Real Estate Appraisers Board requires this bond for state AMC licensing compliance. If you work as an appraisal management company in another state, we also offer appraisal management company bonds nationwide.
How Do I Get a Louisiana Appraisal Management Company Bond?
You can get your bond online in minutes with SuretyBonds.com. Checkout using the secure form on this page, then we’ll email you the bond in minutes.
If you don’t see an email in about five minutes, please check your junk folder. Once you have the bond form, be sure to file it with the LREAB.
Can I Get Bonded With Bad Credit?
Louisiana appraisal management company bonds are continuous until canceled and must be renewed by the principal as long as their state AMC license remains active. If you don't file this bond, you won't be able to get your state AMC license. Companies who fail to keep their AMC bond active risk losing their existing license.
How Do I Renew My Bond?
Depending on the bond term you select, you’ll need to renew your AMC bond every 1–3 years. When you work with us, we’ll provide email and text reminders starting 90 days before the bond expires.
Just pay the renewal invoice to extend your bond for another term. You don’t need to file any extra paperwork.
How to Get an Appraisal Management Company License in Louisiana
Request an account from the Louisiana Real Estate Commission then apply for your AMC license online using the LREC licensing portal. You’ll need to submit supporting documents, including the $20,000 surety bond form.
You can find more AMC licensing resources linked below.
