Under Louisiana R.S. 37:2150, what is the minimum net worth requirement for a Class A contractor license?
Correct Answer
A) $50,000
Louisiana R.S. 37:2150 requires Class A contractors to maintain a minimum net worth of $50,000 to qualify for and maintain their license.
Why This Is the Correct Answer
Louisiana R.S. 37:2150 requires Class A contractors to maintain a minimum net worth of $50,000 to qualify for and maintain their license.
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A contractor in Louisiana completes $85,000 worth of work on a residential project. The owner pays $70,000 but disputes the remaining $15,000. If the contractor files a lien claim, what percentage penalty can be awarded if the contractor prevails in court?
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Under Louisiana law, what is the minimum amount of workers' compensation insurance coverage required for construction contractors?
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Calculate the Louisiana contractor license fee for a residential building contractor with gross receipts of $750,000 in the previous year:
