The State of Washington presented new legislation concerning appraisal management companies. The new law is titled HB 3040 and requires appraisal management companies to acquire a surety bond in a quantity of at least $30,000. The surety bond must be from a State authorized surety company and the aggregate liability of the surety can not surpass the surety bond’s penal total. The surety bond is conditioned on the licensee’s cooperation with the related legislation and policies. HB 3040 authorizes the licensee to “maintain unimpaired capital, surplus, and long-term subordinated debt” in the place of a surety bond.