Those authorized to conduct business in the State of South Carolina as real estate appraisal management companies (AMCs) must secure surety bonds in accordance with the South Carolina Real Estate Appraisers Board. The surety bond must be in a coverage amount of $25,000 and the bond protects any person sustaining loss or damage pursuant to 40-60-10 et seq. of the 1976, Code of Laws of South Carolina. The bonded principal's non-compliance with the state laws, regulations and procedures of the South Carolina Real Estate Appraisers Board, may result in such loss or damage as determined by a court of competent jurisdiction, including the South Carolina Real Estate Appraisers Board.
