Massachusetts § 284 - Appraisal management companies; surety bond
Full text of Massachusetts Massachusetts General Laws § 284 — Appraisal management companies; surety bond, with citation guidance and answers to common questions.
§ 284. Appraisal management companies; surety bond
Section 284. In addition to the filing fee, each applicant for registration shall post with the board and maintain a surety bond in an amount to be determined by the board. The bond shall: (i) be in the form prescribed by the board; and (ii) accrue to the commonwealth for the benefit of a claimant against the registrant to secure the faithful performance of the registrant's obligations pursuant to sections 276 to 289, inclusive.
The aggregate liability of the surety shall not exceed the principal sum of the bond. A party having a claim against the registrant may bring an action directly on the surety bond or the board may bring an action on behalf of the party having a claim against the registrant. A deposit of cash or security may be accepted in lieu of a surety bond. If a claim is made on a bond, the registrant shall not have the registrant's registration renewed until the bond is restored to the full amount required under this section.
Source: official Massachusetts text · Last verified 2026-08-27
Frequently Asked Questions About Massachusetts § 284
What does Massachusetts General Laws § 284 cover?
Section 284 ("Appraisal management companies; surety bond") is part of the Massachusetts General Laws, the codified statutory law of Massachusetts. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Massachusetts § 284?
A common citation format is "Massachusetts General Laws § 284" (Massachusetts). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Massachusetts law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Massachusetts official source linked on this page or consult a licensed Massachusetts attorney.
How does Massachusetts § 284 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Massachusetts can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Massachusetts.