Utah Administrative Code
Topic - Commerce
Title R156 - Professional Licensing
Rule R156-55a - Utah Construction Trades Licensing Act Rule
Section R156-55a-311 - Reorganization - Conversion of Contractor Business Entity - Ownership for Licensure by Endorsement
Universal Citation: UT Admin Code R 156-55a-311
Current through Bulletin 2024-18, September 15, 2024
(1) A conversion from one form of entity to another form with "Articles of Conversion" filed with and approved by the Utah Division of Corporations and Commercial Code does not require a new contractor application.
(2) Except as provided in Subsection (1), a reorganization of the business entity under which a licensed contractor is licensed shall require application for a new license under the new form of organization or business structure. The creation of a new legal entity constitutes a reorganization, and includes:
(a) a change to a new entity under the same
form of business entity; or
(b) a
change of the form of business entity between proprietorship, partnership,
whether limited or general, joint venture, corporation, or any other business
form.
(3) A business entity applying for licensure by endorsement under Section 58-1-302 shall demonstrate that:
(a) at least 50% of the business entity's
ownership proposed for the Utah license is the same as the license held in the
jurisdiction used for endorsement; and
(b) no more than 50% of the business entity's
ownership has changed in the 12 months preceding the date of
application.
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