Mississippi AMC Bond Overview
- Purpose: To protect real estate lenders, buyers and sellers from financial harm
- Who Needs It: All real estate appraisal management company owners in MS
- Regulating Body: The Mississippi Real Estate Appraiser Licensing and Certification Board
- Bond Amount: $20,000
- Premium Price: $200 for a 1-year term
What Is a Mississippi Appraisal Management Company Bond?
A Mississippi appraisal management company (AMC) bond is a type of surety bond required for residential real estate AMCs to operate legally.
Under the Mississippi Real Estate Appraiser Licensing and Certification Act, all real estate appraisers need $20,000 bond coverage. This protects the state and the public from financial harm.
How Much Do Appraisal Management Company Bonds Cost in Mississippi?
A $20,000 Mississippi AMC bond costs $200. This covers a full one-year term. All applicants pay the same flat rate — no credit check required. Buy your bond online in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Mississippi Appraisal Management Company Bond Work?
An AMC bond joins three parties in a legally- and financially-binding agreement.
| Bond Party | Description |
|---|---|
| 1) Principal | The appraisal management company owner filing the bond |
| 2) Obligee | The Mississippi Real Estate Appraiser Licensing and Certification Board |
| 3) Surety | The issuing surety provider |
As the bond principal, you promise to uphold all applicable federal and state AMC laws, rules and obligations. If you don’t, any party harmed by your actions can file a bond claim for reimbursement.
The surety will validate and pay out claims. Then, you are responsible for repaying the surety up to the full $20,000 amount.
How Do I Get an Appraisal Management Company Bond in Mississippi?
You can get your bond online in minutes — just enter your information and checkout now. We’ll email the official bond form in minutes. File this with the Board as instructed.
How Do I Renew My Bond?
When you work with SuretyBonds.com, we’ll send you text and email renewal reminders before your bond expires. Just pay for your renewal premium and we’ll email you a continuation certificate. File this with the Board as proof of continued bond coverage.
How Do I Update My Bond Information?
If minor information on your bond needs to be updated, such as the business name, contact your surety provider.
For current clients: Email [email protected] with the change request and we will issue you a bond rider amendment document if possible.
How to Get an AMC License in Mississippi
To get a license for a Mississippi appraisal management company, complete the Mississippi Appraisal Board’s application packet in its entirety and complete the following steps:
- Designate a Controlling person as a Designated Officer who will serve as the main contact for communications between the licensee and the Board.
- Provide contact information and a Background Information Affidavit for all individuals with 10% or more ownership stake in the company.
- Have all owners complete a state criminal background check with the Department of Public Safety.
- Submit the $20,000 surety bond.
- Pay the $1,500 application fee.
If your business is not located in Mississippi, the Designated Officer will need to complete the Irrevocable Uniform Consent to Services of Process.
Once the Board approves your application, you’ll receive fingerprint cards and consent forms. Have all owners complete and return these to the Mississippi Appraisal Board, along with a $50 fee per card and form.
