31.0123 Changes-Required notice to administrator.

In addition to duties otherwise provided for by the contractors law and this chapter, the licensee is responsible for the following:

(a) Licensees shall advise the administrator within 30 days of any change of address.

(b) A contractor's license issued under the provisions of the licensing law is not transferable. A change in name, business designation, or personnel of a licensee may have the legal effect of attempting to transfer the license and of operating without a license. Therefore, all such changes must be reported to the administrator within 10 days after making any such change.

(c) Creation of a partnership creates a new legal entity which requires all partners to the partnership to hold proper individual licenses or the partnership itself must be licensed.

(d) Creation of a corporation creates a new legal person which requires a new license even though l or more. stockholders have a contractor's license. A license held by a stockholder cannot be authority for the corporation to engage in contracting.

(e) The dissolution of a corporation which has been licensed operates to terminate the license, and no individual or firm may operate under such license.

(f) The change of members of a partnership, either by the addition of a partner or partners or by the withdrawal of a partner or partners, creates a new legal entity which cannot operate on the license of the former partnership.

(g) The administrator must be notified of any change in the officers of a corporation within 10 days after the effective date of such change. The failure of a licensee to notify the administrator of any such change will subject licensee to the revocation or suspension of his license.