The surety bond amount required for appraisal management companies will increase from $25,000 to $100,000 effective July 28, 2013. (see Substitute House Bill 1012).
If you have an actively-licensed appraisal management company, you must provide proof you have a $100,000 surety bond no later than July 28, 2013. If you don’t provide proof, we may take disciplinary action against your license.
To provide proof you have a $100,000 surety bond, send a completed Appraisal Management Company $100,000 Surety Bond Form to us at:
Department of Licensing
Business and Professions Division
Appraisal Management Company Program
PO Box 9021
Olympia, WA 98507-9021
You must renew your appraisal management license every 2 years.