A Nevada contractor completes $125,000 worth of work on a residential project. The homeowner files a complaint with NSCB for defective work. What is the contractor's required bond coverage minimum to handle this claim?
Correct Answer
C) $100,000
Nevada contractors must maintain a minimum bond of $100,000, regardless of individual project values, to cover potential claims.
Why This Is the Correct Answer
Nevada contractors must maintain a minimum bond of $100,000, regardless of individual project values, to cover potential claims.
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A contractor's license expired 45 days ago in Nevada. What penalty must they pay in addition to renewal fees to reinstate?
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A homeowner hired an unlicensed contractor in Nevada who performed $12,000 of defective work. Under NRS 624, what is the homeowner's primary legal remedy?