How much does an AMC bond cost in Missouri?
Missouri appraisal management company bonds must be in the amount of $20,000. Applicants with strong financial credentials could pay as low as $200!
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|Bond Type||Bond Amount||Cost|
|$20,000 Appraisal Management Company Bond||$20,000||$200|
Why do I need this bond?
Missouri AMC surety bonds ensure that the principal (appraisal management company) has applied to the Missouri Real Estate Appraisers Commission and will perform business according to the terms stated in sections 339.500 through 339.549 of the Missouri Revised Statutes.
What’s the fine print?
Missouri appraisal management company bonds are required by the State of Missouri Real Estate Appraisal Commission and are continuous until canceled. If the surety chooses to terminate the bond, written notice must be given to the AMC and the state at least 60 days prior to cancellation.
How to become an appraisal management company in Missouri
The following must be submitted with a Missouri appraisal management company license application:
- signed and notarized application
- Control Person Application (completed by each person that owns 10% or more the company)
- Designation of Controlling Person form
- proof of $20,000 surety bond
- $350 fee made payable to the Missouri Real Estate Appraisers Commission
- copy of current and active authorization to conduct business in Missouri from the Missouri Secretary of State
- proof of fingerprint submission for all controlling persons
Any change to the above information must be submitted to the commission within 30 days of the change.
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