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If you are engaged as an appraisal management company operating in Louisiana, you are required under the Louisiana Revised Statutes section 37:3415.3.D(1) to file an Louisiana Appraisal Management Company Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Louisiana Appraisal Management Company Bond holds you accountable for your business decisions.
By possessing a Louisiana Appraisal Management Company Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.