California Bond of Qualifying Individual - Contractors License Surety Bond
A Surety Bond of Qualifying Individual is required if the license is qualified by the status of a third party that owns 10% or less of the company's voting stock. A Responsible Managing Employee (RME) or Responsible Managing Officer (RMO) are typical third party qualifiers . If the license has more than one RME or RMO qualifying the license, each qualifier must comply with the Qualifying Individual Surety Bonding requirements.
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