In the case of joint ventures, how many licenses are required from NV contractors?

In the context of joint ventures in Nevada, the requirements for licensing emphasize that each entity within the joint venture must be properly licensed. Therefore, if two contractors enter into a joint venture, each of them must hold a valid and active contractor's license to legally perform the contracted work. This results in a total of two licenses being required in such partnerships.

Understanding this requirement is essential because it ensures that both parties involved in the joint venture are qualified and legally authorized to undertake the work specified in their agreement. This dual licensing protects the interests of clients and adheres to the regulatory standards set forth by the Nevada State Contractors Board. Each contractor must maintain their individual licensure in good standing, which includes fulfilling all necessary continuing education and compliance with statutory obligations.