Spring is almost here, and summer close behind it. Appraisal management companies in Colorado need to provide DORA a surety bond by July, 1st, 2013. The Colorado appraisal management company bond must be in the amount of $25,000. The State Division of Real Estate has not yet made a bond form available however you can prequalify! The bond statute has been passed as follows, “12-61-706.7. Bond required. (1) AN APPLICANT FOR AN APPRAISAL MANAGEMENT COMPANY LICENSE SHALL POST WITH THE BOARD A SURETY BOND IN THE AMOUNT OF TWENTY-FIVE THOUSAND DOLLARS BEFORE A LICENSE MAY BE ISSUED BY THE BOARD. A LICENSED APPRAISAl MANAGEMENT COMPANY SHALL MAINTAIN THE REQUIRED BOND AT ALL TIMES. (2) THE SURETY BOND SHALL REQUIRE THE SURETY TO PROVIDE NOTICE TO THE BOARD WITHIN THIRTY DAYS IF PAYMENT IS MADE FROM THE SURETY BOND OR IF THE BOND IS CANCELLED.” Because we know what the obligation must contain, we are ready to issue one for you! Colorado surety leader, Surety One, Inc., the nation’s leader in surety will be offering the Colorado AMC bond as well as superlative fidelity bond coverages for employee dishonesty risks. For more information visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email us at Underwriting@SuretyOne.com for a Colorado appraisal management company bond application.
