Construction Law Attorneys

RME or RMO Do You Need to Post a Bond?

A bond of Qualifying Individual is required if the license is qualified by a Responsible Managing Empolyee (RME). The bond is in addition to the bond for the license. A bond is required for a Responsible Managing Officer (RMO) if the officer does not own at least ten percent (10%) or more of the voting stock of the corporation. The bond amount is $12,500. The bond must be written by a surety company licensed through the California Department of Insurance. The business name, license number and qualifier's name must appear on the bond and be exactly the same as the information on the CSLB's records. The bond must be received at the CSLB's Headquaters Office within ninety (90) days of the effective date of the bond.