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Georgia bonds

Georgia — Appraisal Management Company Bond

Georgia's published AMC form provides $20,000 security in favor of the State for appraisers aggrieved by specified AMC-law or Board-rule violations. Use the management company's legal entity, rather than an appraiser working on one assignment, as the starting point for the registration file.

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Recorded state
Georgia
Category
Real estate & property

What this bond does

Supply security for the appraisal management company's Georgia registration and the statutory undertaking described in the Appraisers Board's form.

Who needs it
An AMC preparing its State registration security, including the authorized person responsible for executing the company's documents.
Who it protects
The form addresses damages to aggrieved appraisers arising from covered violations of the AMC statute or Board rules. Its aggregate liability is limited to the stated sum; it is not the company's property policy or a guarantee of every borrower's valuation.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Use the legal entity and correct execution

The Board form identifies the principal as the legal entity and names the people of the State of Georgia as recipient. Match the company identity and signer to the registration request; the form gives different signature directions for an individual and a partnership.

The published bond is continuous through succeeding registration periods unless terminated under its provisions. A new registration period does not by itself create a fresh $20,000 benefit or establish a fixed term in this purchase option.

Purchase Now opens Propeller. Confirm the company, State recipient and accepted instrument before applying. Deliver the issued document under the Board's directions; the surety application does not approve registration or resolve an appraiser's disputed claim.

Sources

Have these ready

  1. Identify the registering legal entity and authorized signers.
  2. Have the Board's accepted instrument and $20,000 security request.
  3. Confirm the effective date and any replacement/continuation directions.
  4. Submit the executed security separately from registration approval.

Questions about this bond

Is the individual appraiser the applicant?

The offering concerns the management company's registration. Use the legal entity responsible in that file, not automatically an appraiser who receives an assignment.

Does each renewal create another $20,000 limit?

The published form describes continuous security through registration periods and an aggregate cap. Do not assume the limit multiplies whenever registration renews.

Does buying security settle an appraiser's claim?

No. The covered violation, damages and form terms still matter. Purchase Now opens Propeller and does not decide a claim or approve the AMC registration.

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