Section R156-55a-311 - Reorganization - Conversion of Contractor Business Entity - Ownership for Licensure by Endorsement(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.Utah Admin. Code R156-55a-311
Amended by Utah State Bulletin Number 2019-2, effective 1/1/2019Amended by Utah State Bulletin Number 2020-19, effective 9/22/2020Amended by Utah State Bulletin Number 2023-02, effective 1/3/2023