A Class A contractor's license bond is called upon for $40,000 due to a valid claim. The bond amount was $50,000. What must the contractor do to maintain their license?
Correct Answer
C) Restore the bond to its full $50,000 amount
When a contractor's bond is impaired by a claim, Nevada law requires the bond to be restored to its full required amount to maintain the license in good standing.
Why This Is the Correct Answer
When a contractor's bond is impaired by a claim, Nevada law requires the bond to be restored to its full required amount to maintain the license in good standing.
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A contractor receives a Notice of Disciplinary Action from the NSCB. Within how many days can they request a hearing to contest the action?
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