The Tennessee Appraisal Management Company Bond is required by the State of Tennessee.
The Tennessee Department of Commerce and Insurance is the regulating entity requiring the surety bond. The bond states that the bond holder, or Principal, must faithfully perform all the obligations of an Appraisal Management Company under Tenn. Code Ann. 62-39-401, et. seq. and any rules or regulations adopted after. The bond may not be used to assist appraisers in collection efforts of credit extended by the appraiser. The bond protests the state and is for the benefit of a claimant against the appraisal management company.
The amount of the bond is $20,000. The cost of this bond with Surety1 is as low as $200 per year. Apply online in minutes. Fast Service and low rates. Licensed in all 50 States and account rates are available. Sign one indemnity agreement and obtain the bond in all the States that require an Appraisal Management Company bond for the year with just a filled out application!