According to TCA 62-6, what is the minimum net worth requirement for a Tennessee contractor seeking a license classification with an unlimited monetary limit?
Correct Answer
A) $75,000
TCA 62-6 requires a minimum net worth of $75,000 for contractors seeking unlimited monetary limit classifications.
Why This Is the Correct Answer
TCA 62-6 requires a minimum net worth of $75,000 for contractors seeking unlimited monetary limit classifications.
More tn-supplement Questions
Calculate the Tennessee workers' compensation premium for a roofing contractor with a $180,000 annual payroll and a rate of $28.50 per $100 of payroll:
How many hours of continuing education are required for Tennessee contractor license renewal?
Calculate the workers' compensation experience modification factor for a contractor with $85,000 in expected losses and $68,000 in actual losses:
Under Tennessee lien law, what is the maximum time limit to enforce a mechanics lien after it has been filed?
Under Tennessee lien law, which party has priority when multiple liens are filed against the same property?
Under Tennessee building codes, what is the maximum allowable deflection for a residential floor joist with a 16-foot span under live load?
A homeowner in Nashville hires an unlicensed contractor for $8,000 worth of electrical work. The contractor demands payment but the work fails inspection. Under TCA 62-6, what recourse does the unlicensed contractor have?
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A contractor is installing a septic system for a new home in rural Tennessee. The estimated cost is $8,500. According to TCA 62-6, what licensing requirement applies?
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According to Tennessee lien law, within how many days must a subcontractor file a lien notice after the last day of work?
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A Tennessee residential contractor wants to bid on a $75,000 home renovation. Their current license classification only allows work up to $50,000. What must they do?
