Michigan Appraisal Management Company License Bond
Effective April 1, 2014, the State of Michigan required all Appraisal Management Companies (AMC) operating in the state to be licensed with the Department of Licensing and Regulatory Affairs (LARA) under Michigan Compiled Laws Annotated 339. As a condition of licensure, the state may require the applicant to provide an Appraisal Management Company Surety Bond in an amount not to exceed $5,000. The bond is for the use and benefit of any person injured by an unlawful act or omission of the AMC under the laws governering the license
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