Capitol Connection #1070
What’s ‘shaking’ on seismic retrofits? We ‘nail’ down an update on the Earthquake Brace & Bolt opportunity for contractors. How much time does an RMO/RME need to clock-in for? We begin with the role a ‘parent’ plays on a Nevada application question…
Q: You are helping us with our Nevada license and in your instruction letter you advised us to provide a financial statement. Our company doesn’t have financial statements prepared, only our Parent Company does. Our parent company is based in the UK so it’s not in US dollars either. Will it be acceptable?
A: If your company does not have a financial statement, you can provide your Parent company’s financial statement. The Parent company will be required to complete indemnification paperwork. In addition, your company will need to provide an internally prepared balance sheet for the same time period as the Parent Company’s financial statement.
Q: Are both RMOs and RMEs required to be actively engaged in the operation of the applicant’s contracting business for at least 32 hours or 80 percent of the total hours per week such business is in operation, whichever is less? Thanks so much for your time; this is an urgent matter for my family business, and this publication has been a truly invaluable service for us.
A: Thank you for reading/following The Capitol Connection. RMO’s do not have a time/hour requirement. While both RMO’s and RME’s are required to be actively involved in the running of the business, only RME’s have the requirement that it be 32 hours per week or 80% of the company’s operating time.
Contractor’s Note: The CSLB is alerting contractors eager to grow their business and receive free specialized training that they can participate in Earthquake Brace + Bolt (EBB), a California program offering homeowners up to $3,000 toward a code-compliant seismic retrofit. This year, EBB expanded across the state into new cities and additional ZIP Codes, creating a need for more trained contractors.
“We encourage contractors to sign up for EBB and complete the free training so they are ready to do this critical retrofit work in our communities,” said Janiele Maffei, Chief Mitigation Officer of California Earthquake Authority (CEA) and Executive Director of EBB. “This type of work is profitable for contractors and it protects families by strengthening their homes to lessen the potential for devastating earthquake damage.”
According to the Board’s bulletin, benefits include after training is completed- contractors are automatically listed in the EBB Contractor Directory where they can promote their business by adding their logo and information about themselves. Nearly all participating homeowners – 95 percent – go directly to this list to hire a contractor for their EBB retrofit project.
EBB hopes to register and train even more contractors in 2018, as the program expands and more homeowners set out to complete earthquake retrofits on their homes.
For detailed program information, including a complete list of 2018 cities and ZIP Codes, and to register for EBB, licensed contractors are encouraged to visit www.EarthquakeBraceBolt.com.
While knowledge is power, knowing where to go for the answers is half the battle. Get expert assistance immediately when you call 866-443-0657, email email@example.com, or write us at Capitol Services, Inc., 1225 8th St. Ste. 500, Sacramento, CA 95814. Research past columns at www.cutredtape.com.