Appraisal management companies (AMCs) are now required to file an Alaska appraisal management company bond with the Board of Certified Real Estate Appraisers annually, as well as comply with a myriad of filing (state and federal) requirements. Passed as Senate Bill 155 and signed by the governor in July, 2018, the statute brings AMCs under a strict regulatory regime.
The Alaska AMC surety bond guarantees that the licensee will comply with the provision of AS 08.87.135 of the State of Alaska and the acts thereof and supplemental thereto, andfully indemnify and save harmless from loss the State of Alaska and any person who may have a cause of action against the licensee for any act considered malfeasance or misfeasance in the conduct of a real estate appraisal management operations. The surety bond must be issued in the amount of fifty thousand dollars ($50,000) and run to the Department of Commerce, Community, and Economic Development as obligee. Appraisal management company bonds and general inquires should be directed to:
Real Estate Appraisers Program
State Office Building, 333 Willoughby Avenue, 9th Floor
PO Box 110806
Juneau, AK 99811-0806
Phone: (907) 465-2550
ADVISORY: Alaska requires appraisal management companies to adhere the the federal codes regulating AMC fees and consumer protection best practices. The Department of Commerce requires use of its federal AMC annual registration form.
The Board provides a special portal for Alaska AMCs. In additions to links to FAQs, links to regulations and industry-specific resources, the page provide the necessary forms for initial licenses, company changes, renewals and payments.
Alaska surety bond leader, Surety One, Inc. is a specialist in the bonding needs of the appraisal profession. We offer both surety and fidelity bonds needed by AMCs in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here to enter our live chat window for a Alaska appraisal management company bond application or information on ANY surety bonding need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.