SC Law And Business Management Practice Questions - South Carolina Business Management And Law For Commercial Contractor Examination Exam

Under S.C. Code § 40-11-230(C), when may one individual serve as primary qualifying party for two licensed entities?

Whenever both entities hold the same license classification Only if both entities operate from the same physical location, the individual is involved daily in both, derives a livelihood from both, and has ownership in both with at least 50 percent ownership in one If the individual holds two separate qualifying-party certificates Never; a qualifying party may serve only one licensee

Correct Answer:

Only if both entities operate from the same physical location, the individual is involved daily in both, derives a livelihood from both, and has ownership in both with at least 50 percent ownership in one

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