Appraisal Management Bond in Oregon
Oregon requires appraisal management companies to obtain a surety bond as a condition of licensure. This bond helps ensure the company's compliance with state regulations and protects consumers from any financial harm.
The amount of the bond is set by the state and must be maintained throughout the company's operation. It serves as a financial guarantee that the company will fulfill its legal obligations.
Obtaining the OR Appraisal Management Bond
To obtain the required surety bond, appraisal management companies in Oregon must work with a licensed surety provider. The bond application process involves providing information about the company and its financial standing.
Once the bond is in place, the company must renew it annually to maintain its license and continue operating in the state.
