North Dakota Appraisal Management Company Bond
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How much does an appraisal management company bond cost in North Dakota?
An appraisal management company or AMC surety bond in North Dakota costs $125 per year and is issued instantly. However, you can save time and money on your renewal by opting for a multiple-year term at checkout. Simply click Buy Now to get started!
Why do North Dakota appraisal management companies need a surety bond?
The North Dakota Real Estate Appraiser Qualifications and Ethics Board requires applicants for appraisal management company (AMC) registration to post a $25,000 surety bond as a condition of getting a license.
AMC bonds are a type of license and permit bond and are required as consumer protection in the event the company does not abide by all applicable rules and regulations established by the North Dakota Administrative and Century Codes. If the principal practices negligence, causes financial or physical harm, or does not follow all applicable codes, affected consumers can file a claim up to the full $25,000 amount of the bond.
How to register as a North Dakota appraisal management company
A North Dakota appraisal management company is required to register in North Dakota before completing any appraisal work. Follow the steps below to obtain your initial registration.
- Complete an Appraisal Management Company Initial Application for Registration including basic information about your company, the company’s controlling person, all persons/entities who own 10% or more of the company, and the designated officer and registered agent
- Include the non-refundable $2,500 application fee made payable to the North Dakota Appraiser Board
- Complete a criminal background check following all information outlined on the ND Criminal History Record Check General Information page
- Complete two Fingerprint cards and have the fingerprint technician complete a Fingerprint Verification Form
- If the applicant is an out of state entity, attach a signed and notarized Irrevocable Consent to Service of Process
- Obtain your original $25,000 surety bond
Additional details can also be found on the North Dakota Checklist to Register as an Appraisal Management Company.
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 about appraisal management company bonds in other states, visit the SuretyBonds.com Guide to Appraisal Management Company Bonding or select a state from the list below to view each state’s AMC bond requirements.