Posted on / Dec. 15, 2010 08:36:00
All Financially Responsible Officers must have a bond in place to insure financial obligations that may result from construction work. The bond must be payable to the Construction Industry Licensing Board, in the amount of $100,000.
Individuals who were registered as Financially Responsible Officers prior to February 1, 2007, shall only be required to renew their existing $50,000 bonds, unless the individual submits a new application or updated bond.
