Illinois Appraisal Management Company License Bond
Effective August 2011, the State of Illinois (IL) enacted legislation under IL State Statutes CH 225 requiring all Appraisal Management Companies (AMC's) to be licensed and to post and maintain a $25,000.00 Appraisal Management Company (AMC) License Surety Bond (225 ILCS 459/50). The bond shall be for the recovery of expenses, fines, or fees due to or levied by the Department of Financial and Professional Regulation in accordance with this Act. The bond shall be payable when the registrant fails to comply with any provisions of this Act
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