An RMO who owns 15 percent of the licensed corporation's voting stock qualifies its license. Is a bond of qualifying individual required?

Explanation

B&P §7071.9(a)(1) requires a $25,000 qualifying individual's bond whenever the qualifier is neither the proprietor, a general partner, nor a joint licensee, and §7071.9(c) excuses the responsible managing officer of a corporation who owns 10 percent or more of the voting stock and certifies to that fact on the Registrar's form; 15 percent clears the threshold. (b) borrows the 20 percent common-ownership figure from §7068.1(a)(1), which governs qualifying a second firm, not this bond. (c) reads only subdivision (a)(1) and misses the ownership waiver. (d) overstates that waiver: it is conditional on the 10 percent holding and on the certification, and §7071.9(d) sets the parallel 10-percent membership-interest test for an LLC's qualifier.