Missouri Appraisal Management Company License Bond
The Missouri Real Estate Appraisers Commission require all individuals or entities who operate or desire to operate as an Appraisal Management Company (AMC) to be licensed and post a $20,000 AMC License bond in accordance with Missouri Certified and Licensed Real Estate Appraisers and Appraisal Management Company Regulation Act. An Appraisal Management Company (AMC) is an individual or business entity that utilizes an appraisal panel and performs, directly or indirectly, appraisal management services for a fee.
The Appraisal Management Company License bond provides a financial guarantee with regard to all work done by the Appraisal Management Company (as defined in section 339.500 Missouri Revised Statutes) will be in compliance with all provisions of state statutes and regulations promulgated thereunder. The bond is reserved for the payment of all amounts that may be due and owing against the AMC by reasons of failing to comply (with sections 339.500 through 339.549 of the Missouri Revised Statutes) and regulations promulgated thereunder,
The bond is for the exclusive purpose of amounts owing to persons who perform real estate appraisal activity and court judgments filed with the Commission for real estate appraisal activity or appraisal management services that violate sections 339.500 to 339.549, or breach of contract in performing real estate appraisal activity or appraisal management services by an appraisal management company that violate sections 339.500 through 339.549, Missouri Revised Statutes.
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