Wyoming Appraisal Management Company Bond
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How much does an appraisal management company surety bond cost in Wyoming?
The Wyoming Certified Real Estate Appraiser Board requires appraisal management companies to post $25,000 surety bonds. These bonds are issued instantly and cost $250. A 25% discount is available for subsequent years when multiple years of coverage are purchased.
Why do I need this bond?
Wyoming appraisal management company bonds protect the state and any person who suffers harm if the principal (AMC) violates any terms of the Wyoming Appraisal Management Company Registration and Regulation Act. The bond covers damages up to the full bond amount, and the principal must reimburse the surety for all damages paid out.
What’s the fine print?
Wyoming AMC bonds are continuous until canceled. The surety can cancel the bond by providing written notice of cancellation along with the reason for termination to the Wyoming Certified Real Estate Appraiser Board 30 days prior to the effective date of cancellation.
How to become an AMC in Wyoming
Applicants who wish to be licensed as an appraisal management company in Wyoming must submit the following fees, documents and information in a complete registration application packet:
- $1,800 registration fee
- fingerprint cards for any person with 10% or more interest in the business
- current person for designated contact
- proof of Good Standing from state
- surety bond
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.