624.740 - Unlawful to act in joint venture or combination without additional license. - Nevada Statutes

624.740  Unlawful to act in joint venture or combination without additional license.

      1.  It is unlawful for any two or more licensees, whose licenses have been limited by the Board to contracts not exceeding certain monetary sums and each of whom has been issued a license to engage separately in the business or to act separately in the capacity of a contractor within this State, jointly to submit a bid or otherwise act in the capacity of a contractor within this State without first having secured an additional license for acting in the capacity of such a joint venture or combination in accordance with the provisions of this chapter as provided for an individual, copartnership or corporation.

      2.  A licensee whose license is limited to contracts not exceeding certain monetary sums cannot be a party to a joint venture unless such licensee has secured an additional license for such joint venture.

      [4:Art. II:186:1941; A 1951, 47]—(NRS A 1963, 695)—(Substituted in revision for NRS 624.290)