Under B&P Code Section 7071.17, what happens to a contractor's license when the qualifying individual disassociates from the business?
Correct Answer
A) License becomes inactive pending replacement
B&P Code Section 7071.17 provides that when a qualifying individual disassociates, the license becomes inactive until a replacement qualifying individual is approved.
Why This Is the Correct Answer
B&P Code Section 7071.17 provides that when a qualifying individual disassociates, the license becomes inactive until a replacement qualifying individual is approved.
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Calculate the total licensing fees for a new Class B general building contractor applying for an original license, including the application fee, initial license fee, and required bond cost for a $100,000 bond through a surety company at 1.5% annual premium.