{"id":1395,"date":"2014-07-05T21:28:50","date_gmt":"2014-07-05T21:28:50","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1395"},"modified":"2017-04-19T02:59:20","modified_gmt":"2017-04-19T02:59:20","slug":"south-dakota-appraisal-management-company-surety-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/south-dakota-appraisal-management-company-surety-bond\/","title":{"rendered":"South Dakota Appraisal Management Company Surety Bond"},"content":{"rendered":"<p>The State of South Dakota&#8217;s Appraisal Management Company Registration Program has been recently amended to require a <strong>South Dakota appraisal management company surety bond<\/strong> from EVERY registrant operating within the state. \u00a0The new surety bond requirement is effective as of July 1st, 2014. \u00a0The statute defines an appraisal management company as an entity or person that does any of the following: \u00a0a.) \u00a0Recruit, select, and retain appraisers. b.) Contract with licensed or certified appraisers to perform appraisal assignments. c.) \u00a0Manage the process of having an appraisal performed, including providing administrative duties including receiving appraisal orders and appraisal reports, submitting completed appraisal reports to creditors and underwriters, collecting fees from creditors and underwriters for services provided, and\/or reimbursing appraisers for services performed. \u00a0d.) \u00a0Review and verify the work of appraisers for compliance with the Uniform Standards of Professional Appraisal Practice.<\/p>\n<p>Pursuant to\u00a036-21D-13, an appraisal management company shall continuously maintain the <strong>surety bond<\/strong> or irrevocable letter of credit required by \u00a7 36-21D-12 on file with the Department of Labor and Regulation in the amount of twenty-five thousand dollars ($25,000 bond) for the exclusive purpose of payment of the obligations listed in subdivision 36-21D-12(1). Upon termination, cancellation, or reduction of the surety bond or irrevocable letter of credit to less than twenty-five thousand dollars, the registered appraisal management company shall file a replacement surety bond or irrevocable letter of credit within the time period established by the department by rule or surrender the company&#8217;s registration to the department and cease operating as an appraisal management company.<\/p>\n<p>The \u00a0appraisal management company bond and application, or any questions about registration and bonding should be submitted as follows:<\/p>\n<p><a href=\"http:\/\/dlr.sd.gov\/appraisers\/information_for_amcs.aspx\">South Dakota Appraiser Certification Program<\/a><br \/>\n<strong>Appraisal Management Company Surety Bond<\/strong><br \/>\n308 South Pierre Street<br \/>\nPierre, SD 57501<br \/>\nemail: appraisercertification@state.sd.us<\/p>\n<p><strong>South Dakota surety leader<\/strong>, <a href=\"https:\/\/suretyone.com\">Surety One, Inc.<\/a> is a specialist in the bonding needs of the appraisal profession. \u00a0We offer both surety and fidelity bonds needed by these professionals in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Visit us at SuretyOne.com, call <span style=\"color: #ff0000;\">(787) 333-0222<\/span> or <span style=\"color: #ff0000;\">(800) 373-2804<\/span>, or email us at <span style=\"color: #ff0000;\">Underwriting@SuretyOne.com<\/span> for a <strong>South Dakota appraisal management company surety bond<\/strong>\u00a0application or information on ANY surety bonding need. \u00a0Tambi\u00e9n recuerden que nuestra asesor\u00eda est\u00e1 disponible en SU idioma.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State of South Dakota&#8217;s Appraisal Management Company Registration Program has been recently amended to require a South Dakota appraisal management company surety bond from EVERY registrant operating within the state. \u00a0The new surety bond requirement is effective as of&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/south-dakota-appraisal-management-company-surety-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":2440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[2212,1283,280,414,1732,1733,1731,1730,1734,2175],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Dakota Appraisal Management Company Surety Bond<\/title>\n<meta name=\"description\" content=\"The State of South Dakota&#039;s AMC laws have been recently amended to require a South Dakota appraisal management company surety bond from EVERY registrant\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/south-dakota-appraisal-management-company-surety-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Dakota Appraisal Management Company Surety Bond\" \/>\n<meta property=\"og:description\" content=\"The State of South Dakota&#039;s AMC laws have been recently amended to require a South Dakota appraisal management company surety bond from EVERY registrant\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/south-dakota-appraisal-management-company-surety-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-05T21:28:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-04-19T02:59:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/south_dakota_appraisal_management_company_surety_bond-945x494-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"945\" \/>\n\t<meta property=\"og:image:height\" content=\"494\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. 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