Kinh doanh & Cấp phépCâu 1388 / 1605
A licensed LLC contractor must carry liability insurance in an aggregate amount that increases with the number of persons employed. What is the minimum aggregate coverage floor?
a.$100,000
b.$25,000
c.$1,000,000
d.$500,000
Giải thích
Under B&P Code section 7071.19, a licensed LLC must maintain liability insurance with an aggregate limit of at least $1,000,000 for companies with five or fewer persons, increasing by $100,000 per additional person up to $5,000,000.
Trích dẫn luật: B&P Code §7071.19Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- When a corporation applies for a contractor's license, who must appear on the application as the qualifying individual?
- Which business entity form is NOT among those permitted to hold a California contractor's license?
- California authorizes limited liability companies (LLCs) to hold contractor's licenses. What special financial security must a licensed LLC carry in addition to the standard bond?
- A partnership holds a contractor's license and one partner dies. What generally happens to the license?
- A licensee must notify the Registrar of certain changes. Within how many days must a licensee report a change of business address?
- If a qualifying individual (RMO/RME) disassociates from a license, within how many days must the licensee notify the Registrar?
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)