The South Dakota Department of Labor & Regulation, which licenses and regulates appraisal management companies (AMC’s), requires such companies to obtain a $25,000 surety bond as one of the conditions of licensing.
Our agency offers you the $25,000 South Dakota appraisal management company bond immediately, and with no credit check. The premium will be just 1%, that is, $250 annually.
The process to obtain your surety bond is quick. When you call us, we’ll ask you very basic questions:
The name, exactly as it should appear on your AMC surety bond, along with your contact information to include your address, phone number and email.
We’ll also ask for your name and business title as it should appear on the bond.
After payment of the $250 premium, our agency issues your bond and a Power of Attorney (POA) form for you to file. Your documents are then mailed to you.
Upon receipt, you’ll sign your original surety bond as Principal, and then file it along with the POA form to:
South Dakota Appraiser Certification Program
308 S. Pierre Street
PO Box 3469
Pierre, South Dakota 57501-3137
The $250 premium with your South Dakota AMC surety bond is for one year. The bond and the premium will renew on the one year anniversary of its issuance.
Our agency also offers you the option to prepay your appraisal management company bond up to 3 years. Prepayment of the premium saves you over annual renewals, while lengthening the time interval between renewals.
The premium prepayment option and savings are as follows:
The purpose of this surety bond is to serve as a financial guarantee of your compliance with SDCL 36-21D.
As a quick summary, this statute requires you to pay, if ever applicable, any fees and penalties assessed against your AMC company due to negligence, malfeasance, or a defective real estate appraisal.
AmeriPro Surety Bonds is a surety bonds-only agency. Our company provides appraisal management surety bonds wherever required nationwide.
Our agency is also a provider of license and permit, court, probate, and other surety bonds in all 50 states.
Please call us today at:
Or, you may fill out our Contact Form above and a Surety Agent will call you.