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Pennsylvania bonds

Pennsylvania — Appraisal Management Company Bond

Pennsylvania's published AMC form provides $40,000 security and requires the certified power-of-attorney date to agree with the bond's execution date. Prepare the company, authorized signers and compliance person together so the executed instrument matches the registration file.

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Recorded state
Pennsylvania
Category
Real estate & property

What this bond does

Supply the AMC's Pennsylvania registration security, separately from an individual appraiser credential or general property/title insurance.

Who needs it
An appraisal management company preparing its registration documents, including the authorized officer and compliance person where the form calls for them.
Who it protects
The form concerns the AMC Act and applicable-law obligations under its revocation/forfeiture or judgment condition. It states an aggregate limit and restoration directions; it is not an automatic guarantee of every appraisal result or customer demand.

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.

Match signer roles and power-of-attorney dates

Use the company's legal name and business address with the Commonwealth recipient. Follow the appropriate principal/officer and compliance-person signature sections. The form also contains a distinct nonresident consent, which is not replaced by the bond's main signature page.

Attach the certified power of attorney with the date required by the form. It states $40,000 security, continuation until its permitted cancellation and restoration to the required sum within 15 days after a claim payment. Coordinate the actual instructions rather than treating each claim as a new unlimited benefit.

Purchase Now opens Propeller. Confirm the company and accepted instrument before applying, then deliver the complete executed file under the Board's directions. Checkout does not grant registration, establish a valid claim or complete a nonresident consent.

Sources

Have these ready

  1. Identify the registering company, authorized signers and compliance person.
  2. Obtain the current accepted $40,000 Commonwealth instrument.
  3. Coordinate certified power-of-attorney and execution dates, plus any applicable nonresident consent.
  4. Confirm effective dates, restoration and issued-document submission instructions.

Questions about this bond

Can the power-of-attorney date differ from execution?

The published form expressly says the certification date and bond execution date must agree. Have the provider prepare the actual certified authority accordingly.

Does the bond replace nonresident consent?

No. The published packet contains a separate nonresident-registrant consent and compliance-person signature. Follow the applicable registration instructions for that document.

Does a claim payment leave the required security reduced indefinitely?

The form calls for restoring the required sum within 15 days after a claim payment. Confirm the actual restoration instructions; this is not an unlimited or automatic benefit for every allegation.

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