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Alaska Real Estate Appraisers Required To Be Bonded As Of 2019

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from the article - clarification

" Real estate appraisers in Alaska will have to meet new requirements as of 2019. With Senate Bill 155, state legislators introduce a registration process for appraisal management businesses. As part of the procedure, applicants will have to provide an appraisal management company surety bond. Its purpose is to guarantee the strict following of applicable state laws.

Discussions of the bill started in the beginning of 2018. Governor Bill Walker signed it into law as Chapter 67 of the Alaska State Legislature on July 24, 2018. If you’re already operating a real estate appraisal management company, or planning to start one, below you can find the essential details from the new law that will affect your activities.

The main stipulations in Senate Bill 155

With the passing of the new legislation, Alaska lawmakers have introduced a registration process for real estate appraisal management businesses."
 
There are a couple of states that have required me to provide proof of E&O insurance (for permanent licensure), which I thought was an overstep on their part. Also, I wonder if that information is discoverable? In Florida if you go to trial, the jurors are not permitted to know if a defendant has insurance coverage or not....i guess it is probably different in other states.

Doesn't really matter either way, just trying to clear the morning fog.
 
Terrel L. Shields said:
Did you expect the all knowing press to know the difference? They don't know the difference between lightning and lightning bug (with apologies to Mark Twain)
Click to expand...
You consider a trade magazine as the "press?" Someone doesn't know the difference!!:eyecrazy::eyecrazy:
 
Time for appraiser's in Alaska to raise their fees.....
 
the cost for a surety bond, even with mid-range credit score, is typically only 3-5% of the total bond amount so on a $25k bond the cost would most likely not exceed $1,250.
 
I think state boards are going to have to figure out a way to vary the bond amount and make it AMC specific. A blanket 25k bond doesn't mean much if you are doing $1M worth of business in that state every month.
 
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