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The Division has provided a simple overview of the licensing process for AMCs. These steps also provide quick links to other websites that will provide information an applicant will need in the process.
AMCs must renew their Colorado license between November 15th and December 31st every year. If a AMC fails to renew the license within that time frame the licensee will have a grace period until January 31st of the new year to renew the license. Should the AMC fail to renew after the grace period, they may reinstate the license within two years after the date of expiration; however reinstatement is subject to additional fees.
All applications for AMCs are submitted as a paper application to the Division; this includes initial application, renewals, preliminary advisory opinions, etc.
Each controlling appraiser for an AMC and any individual with greater than 10% ownership in the AMC must submit to a Colorado and national background check by submitting fingerprints.
All AMCs must secure a surety bond in the amount of $25,000.