(a)No license, regardless of type or classification, shall be transferable to any other person or entity under any circumstances.
(b)A license number may be reissued after cancellation, revocation, suspension, or expiration beyond the renewal period specified in Section 7141, only under the following circumstances:
(1)To an individual upon application.
(2)To a partnership upon application if there is no change in the partners or partnership structure.
(3)To a corporation upon application if there is no
change in the status of the corporation as registered with the Secretary of State.
(4)To a limited liability company upon application if there is no change in the status of the company as registered with the Secretary of State.
(c)A license number may be reissued or reassigned t
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(a)
No license, regardless of type or classification, shall be transferable to any other person or entity under any circumstances.
(b)
A license number may be reissued after cancellation, revocation, suspension, or expiration beyond the renewal period specified in Section 7141, only under the following circumstances:
(1)
To an individual upon application.
(2)
To a partnership upon application if there is no change in the partners or partnership structure.
(3)
To a corporation upon application if there is no
change in the status of the corporation as registered with the Secretary of State.
(4)
To a limited liability company upon application if there is no change in the status of the company as registered with the Secretary of State.
(c)
A license number may be reissued or reassigned to a different entity only under the following conditions:
(1)
To a corporation when the parent corporation has merged or created a subsidiary, the subsidiary has merged into the parent corporation, or the corporation has changed its filing status with the Secretary of State from a domestic corporation to a foreign corporation or from a foreign corporation to a domestic corporation, and the new entity is being formed to continue the
business of the formerly licensed corporation.
(2)
To a limited liability company when the parent limited
liability company has merged or created a subsidiary, the subsidiary has merged into the parent limited liability company, or the limited liability company has changed its filing status with the Secretary of State from a domestic limited liability company to a foreign limited liability company or from a foreign limited liability company to a domestic limited liability company, and the new entity is being formed to continue the business of the formerly licensed limited liability company.
(3)
To an individual when the individual is an immediate family member of a licensed individual who is deceased or absent and the license is required to continue an existing family contracting business.
(4)
To a corporation or limited liability company when created by
immediate members of an individual licensee’s family to continue an existing deceased or absent individual licensee’s contracting business.
(5)
To a corporation or limited liability company when the corporation or limited liability company is formed by an individual licensee and the individual licensee maintains ownership directly or indirectly of shares or membership interests evidencing more than 50 percent of the voting power.
(6)
To a limited liability company that is formed by a corporation to continue the business of the corporation subsequent to the cancellation of the corporate entity’s license, provided the personnel listed for each entity are the same.
(d)
For purposes of this section, an immediate family member of
a deceased or absent licensed individual is either a spouse, father, mother, brother, sister, son, daughter, stepson, stepdaughter, grandson, granddaughter, son-in-law, or daughter-in-law.