Rules & Regulations of the State of Tennessee
Title 0680 - Board for Licensing Contractors
Chapter 0680-01 - Licensing
Section 0680-01-.15 - REVIEW AND ADJUSTMENT OF CLASSIFICATIONS AND MONETARY LIMITATIONS

Universal Citation: TN Comp Rules and Regs 0680-01-.15

Current through September 24, 2024

(1) The Board may require that financial statements submitted by contractors in conjunction with an application for renewal of a license or a request for change of classification(s) or limitation(s) be examined by the Comptroller of the Treasury of his designated representative. The Board may, because of the results of an audit, changing financial conditions, or any other relevant factors:

(a) require the submission of additional financial information prior to acting on a renewal application or request for change of classification(s) or limitation(s); and

(2) change the general or specialty classifications or monetary limitations of any license when in the public interest. However, before changing adversely the classification(s) and/or monetary limitation(s) of any license, the Board shall afford the licensee the opportunity for a hearing to show cause why such action should not be taken.

Authority: T.C.A. §§ 62-609, 62-612, and 62-617.

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