Kinh doanh & Cấp phépCâu 1434 / 1605
Claims against the $25,000 contractor's license bond are generally handled how when total claims exceed the bond amount?
a.Largest claim first
b.Newest claim first
c.The contractor chooses
d.Certain priority claimants (like residential property owners) may have priority, with claims otherwise sharing the limited bond proceeds
Giải thích
Under B&P Code section 7071.11, the bond's proceeds are limited to $25,000 total. The statute establishes priorities (for example, residential homeowners) and provides for proration among claimants when total claims exceed the bond amount.
Trích dẫn luật: B&P Code §7071.11Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An RMO who owns 15% of the licensed corporation qualifies its license. Is a bond of qualifying individual required?
- A licensee changes the business name style (for example, from 'ABC Builders' to 'ABC Construction Inc.'). What is generally required?
- A sole proprietor licensee incorporates the business. Can the new corporation keep operating under the sole proprietor's license number without action?
- Departing from accepted trade standards for good and workmanlike construction, as a willful violation, can lead to what?
- Willful or deliberate disregard of state or local building laws by a licensee is what?
- Diversion of funds or property received for a specific construction project, causing inability to complete it, is known as what violation?
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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)