A licensee or an applicant for a contractor’s license must prove financial responsibility by demonstrating that his or her past and current financial solvency and expectations for financial solvency in the future are such as to provide the Board with a reasonable expectation that the licensee or applicant can successfully do business as a contractor without jeopardy to the public health, safety and welfare.
NRS 624.262
Financial responsibility of applicant or licensee: Demonstration required
(Added to NRS by 1999, 2953)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.