Georgia Real Estate Appraisal Management Bond

GeorgiaThe State of Georgia enacted a new law concerning real estate appraisal management companies. The new law, which is referred to as HB 1050, requires real estate appraisal management companies to acquire a surety bond or alternative security in relation to registration in order to guarantee compliance with the applicable legislation. The law would authorize direct actions on the surety bond and lead the Georgia Real Estate Appraiser Board to implement regulations regarding the other criteria for the surety bond.