(a) Each contractor shall submit to the administrator, for his and the board's use, a certified yearly financial statement. Such statement shall be due and submitted in conjunction with the contractor's application for a business license pursuant to Chapter 27.02 ASCA.
(b) In addition, the administrator may require a financial statement for any contract in which contractor has agreed to supply goods or services, and the administrator may require financial statements at any time he believes that contractor may be contracting beyond the maximum bid classification in which the contractor has been placed by the administrator or board.History: Contractors Lic. Bd. Reg. 2.12, eff 12 Feb 73.