The bond of qualifying individual is required primarily in which situation?

Explanation

§7071.9(a)(1) requires the $25,000 qualifying individual's bond whenever the qualifier is neither the proprietor, a general partner, nor a joint licensee — which covers every responsible managing employee — and §7071.9(c) exempts a responsible managing officer only where he owns 10 percent or more of the corporation's voting stock and certifies that fact. So the trigger is who the qualifier is, not the events in the other three options: renewal in (a) does not create the bond; (c) points at the certificate of workers' compensation insurance under §7125, which turns on having employees (or on holding a C-8, C-20, C-22, C-39 or D-49 classification) and has nothing to do with this bond; and public works in (d) brings bid and payment bonds that have nothing to do with this one. This bond is in addition to the §7071.6 contractor's bond and may not be combined with it, and §7071.9(b) caps the surety's aggregate liability at $7,500 for claims other than those of the §7071.10(a)(1) beneficiaries.