Alabama Administrative Code
Title 230 - STATE OF ALABAMA LICENSING BOARD FOR GENERAL CONTRACTORS
Chapter 230-X-1 - CONTRACTORS
Section 230-X-1-.08 - Subsidiary Using Parent's Financial Statement
Universal Citation: AL Admin Code R 230-X-1-.08
Current through Register Vol. 42, No. 5, February 29, 2024
A subsidiary is a separate legal entity from its parent company and cannot use a financial statement of its parent company other than to go one step higher in the bid limit classification. The subsidiary must first reach its bid limit on its own financial statement.
Author:
Statutory Authority: Code of Ala. 1975, § 34-8-22.
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