South Carolina's newest bond requirement – Real Estate Appraisal Management Bond
South Carolina HB 3717
South Carolina has a pending bill that would require real estate appraisal management companies to be registered and to post a $25,000 surety bond. This cannot exceed the $25,000 amount and the bond would have to be from a corporate surety licensed to do business in that state. This bill would create the Real Estate Appraiser’s Board and this board will determine the bond amount through their rules. Having this bon instated would secure the payment of any penalties and any damages caused as a result of the company’s violation of the applicable law or rules.
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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
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