Assigned to COMPS FOR
COMMITTEE
Assigned to COMPS FOR
COMMITTEE
ARIZONA STATE SENATE
Fifty-Third Legislature, Second Regular Session
Purpose
Modifies Arizona Registrar of Contractors information and notification requirements.
Background
The Arizona Registrar of Contractors (ROC) issues contractor licenses by classifying qualified applicants, changing license classifications, conducting investigations and establishing examinations. Applicants must submit required information to the ROC including: 1) classification sought; 2) the names and addresses of either individual applicants, partners of a firm or leaders of a corporation; 3) evidence of good standing; 4) location of business; and 5) proof of compliance with workers' compensation regulations (A.R.S. § 32-1122).
There is no anticipated fiscal impact to the state General Fund associated with this legislation.
Provisions
1. Shifts, from 50 percent to 25 percent, the amount of company stock or beneficial interest transfer in ownership requiring ROC notification.
2. Requires limited liability companies (LLCs) applying for a contractor's license to include the names and addresses of:
a) all managers, if manager-managed;
b) all members, if member-managed; or
c) all owners with at least 25 percent of stock.
3. Requires LLCs applying for a contractor's license to be in good standing with the Arizona Corporation Commission.
4. Defines named on a license as information required by the ROC.
5. Redefines person as a corporation, company, partnership, firm, association, trust, society or natural person.
6. Makes technical and conforming changes.
7. Becomes effective on the general effective date.
Prepared by Senate Research
February 1, 2018
GH/JP/lb