Business FinancesQuestion 1146 of 1605
In addition to the license bond, a qualifying individual who serves as RMO/RME for a licensee generally must file what?
a.A $25,000 fidelity bond
b.No additional bond in any case
c.A $100,000 surety bond
d.A $25,000 bond of qualifying individual
Explanation
Under B&P Code §7071.9, a qualifying individual who is not an owner meeting the ownership threshold must file a Bond of Qualifying Individual, also $25,000. It is separate from and in addition to the $25,000 contractor's license bond.
Law Reference: Business & Professions Code §7071.9Practice all 1605 questions free — no signup required.
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Reviewed by Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verify)