Virginia — Appraiser Management Company Bond
Virginia's AMC statute provides a bond or letter-of-credit route and specifies $100,000 or another amount set by Board regulation. Obtain the Board's actual required sum and prescribed instrument; this offering is the surety route, not a bank letter of credit.
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- Recorded state
- Virginia
- Bond type
- Appraisal Management Company Bond
- Category
- Real estate & property
What this bond does
Supply the AMC's Virginia licensing security under the Board's current accepted form and amount directions.
- Who needs it
- An appraisal management company seeking licensure, with its company identity and Virginia responsible-person contact prepared separately.
- Who it protects
- The statute benefits qualifying claimants for AMC-law performance and appraisers not paid for work performed for the licensee. Its aggregate, direct-suit and judgment-process conditions apply; it is not unconditional payment of every invoice or appraisal complaint.
Your bond option
This is the option on record for this bond.
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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.
Sources
- Virginia Legislature: Code 54.1-2021.1 (opens in a new tab)Checked October 26, 2026
Have these ready
- Identify the AMC principal and business address.
- Prepare the Virginia responsible contact and applicable service-agent/entity details separately.
- Obtain the Board-prescribed surety form, current required sum and effective dates.
- Follow filing and required-security restoration directions.
Questions about this bond
Does this purchase produce a letter of credit?
No. The statute allows that separate route, but this offering opens Propeller for surety security. Obtain the instrument actually requested by the Board.
Is $100,000 an unqualified amount for every filing?
The statute expressly allows another amount set by Board regulation. Confirm the current Board request rather than treating an unlabeled option as a verified selectable sum.
Can paid claims leave the security reduced indefinitely?
The published statute calls for restoring the required amount within 15 days after payment and provides licensing consequences for failure. Follow the actual Board directions.