5/10/2023 0 Comments Ilicense board of california![]() The licensee must submit a written request for license reassignment, specifying which condition exists, along with an Original Application for Contractor License and the required fees. ![]() The corporation has changed its filing status with the SOS from a foreign corporation to a domestic corporation,.The corporation has changed its filing status with the SOS from a domestic corporation to a foreign corporation, or.The subsidiary has merged into the parent corporation,.The parent corporation has merged or created a subsidiary,.In turn, if a corporation dissolves, merges, or surrenders the right to do business in California through the SOS, the contractor license must be canceled.Ī corporate license may, however, be reassigned to a different corporate registration number if one of the following conditions exists and the new entity is being formed to continue the business of the formerly licensed corporation: In short, a contractor’s license is not an asset that can be acquired in an asset purchase. A company acquiring the “assets” of a licensee would have its own SOS registration number and, therefore, it would be required to obtain its own contractor’s license. If this registration number changes, a new contractor’s license number will be required. If all limited partners leave the limited partnership, the limited partnership license must be canceled.Ī corporate license is issued exclusively to a specific corporate registration number assigned by the California Secretary of State’s Office (SOS). However, at least one limited partner must be listed on the license to continue under the limited partnership license. In contrast, limited partners can be added to and removed from a limited partnership license by completing and submitting an Application to Change Limited Partners of a Partnership. A new license will be required for any new partnership structure that includes a change to the general partners. Similarly, general partners cannot be added to a limited partnership license. When a general or qualifying partner leaves the limited partnership, the limited partnership license must be canceled. Once a sole owner license number is reassigned to a corporation, it cannot be changed back to a sole owner license.Ī limited partnership license is issued to a partnership made up of one or more general partners and one or more limited partners. A Licensed Sole Owner Applying for Corporate License is submitted along with an Original Application for Contractor License and the required fees.The licensee maintains ownership of at least 51% of the corporation, and.The corporation was formed by the licensee,.In turn, a sole owner license may be reassigned to a corporation if, A written request for license reassignment is submitted along with an Original Application for Contractor License and the required fees.The licensee is required to continue the existing (currently active and operating) family business, and.The individual is an immediate family member of the licensee,.However, Section 7075.1(c) provides for the reassignment of a sole owner license under certain limited circumstances.Ī sole owner license may be reassigned to another individual if, ![]() Maintaining proper licensure is imperative to avoiding the rather draconian consequences of Section 7130.Ī sole owner license is issued to a specific individual and it cannot be sold or transferred to another individual. In turn, under certain circumstances, changes to a business entity will require a new contractor’s license. Code §§ 7000 et seq., is that a contractor’s license is not transferrable or reassignable to another individual or business entity, except under very limited circumstances. A basic tenant of the Contractors License Law, Cal. Things are About to Change, What this Means for a California Contractor’s LicenseĬalifornia (January 21, 2020) - If you are contemplating purchasing or selling a business entity that is a licensed California contractor or even simply changing the type of business entity under which you operate as a licensed California contractor, you must carefully consider and understand the implications and consequences.
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