SB 1375 Summary

• Adds definition of "named on a license" to contractor licensing statute, clarifying which individuals must be identified on contractor licenses.

• Lowers ownership threshold for change-of-ownership notifications from 50% to 25% or more of stock or beneficial interest in licensed contractor companies.

• Expands applicant and licensee notification requirements to include changes in ownership, management structure, and qualifying party information within 30 days of occurrence.

• Modifies contractor license application requirements for limited liability companies to identify all managers (if manager-managed) or all members (if member-managed), plus owners with 25% or more interest.

• Clarifies that persons named on licenses cannot obtain new licenses until any civil penalties imposed against them are fully paid.