Missouri Appraisal Management Company Bond
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How much does a $20,000 appraisal management company bond cost in Missouri?
Missouri appraisal management company bonds cost just $200 with no underwriting required. A 25% discount is available for subsequent years when multiple years are purchased. Simply click Buy Now to visit our secure bond checkout to purchase your bond directly from our site. In just a few minutes you can be on your way to being bonded as an appraisal management company in Missouri.
Why do I need an AMC bond?
The Missouri Division of Professional Registration - Real Estate Appraisers Commission requires appraisal management companies to submit bonds in the amount of $20,000.
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.
How to become an appraisal management company in Missouri
To become an appraisal management company in Missouri, follow these steps noted by the The Missouri Division of Professional Registration.
Any change to the following information must be submitted to the Missouri Real Estate Appraisers Commission within 30 days.
If you are the Designated Controller of the AMC, the person who ensures the company will comply with all regulations, start by completing and notarizing an appraisal management company application. You will need to provide your personal information (name, address, phone, email, licensing, criminal history, etc.), company details, and consent for a background check of all controlling persons (anyone owning 10% or more of the company).
Once your application is complete, submit a payment fee of $350.00 to the commission.
Then, submit a copy of current and active authorization to conduct business in Missouri from the Missouri Secretary of State.
Complete and notarize the Designation of Controlling Person form, which officially establishes one person as the Designated Controlling Person of the AMC. This is the same person who is responsible for the completion of the initial application. This form will require you to, again, provide personal information such as contact information, appraisal certification, and criminal history.
Those owning 10% or more of the company must complete and notarize the Control Person Application to identify all controlling persons of the AMC. It must be completed separately for each individual, and will require additional personal information and consent for a background check.
Once all controlling persons have been established, each person will need to be fingerprinted, and then submit proof of doing so.
Submit verification of each state, U.S. territory, province, or country regulatory entity in which a license, certificate, registration, or permit as an appraisal management company is held or has ever been held directly to the Missouri Real Estate Appraisal Commission.
Finally, you need a $20,000 surety bond, which you can purchase instantly today through our secure online checkout.
Other information on AMC bonds
In addition to these bonds being a requirement of the State of Missouri Real Estate Appraisal Commission, they 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.
Appraisal Management Company Bonds Available 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.
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