Upon the death of the sole qualified partner, how many days after the death is the license automatically suspended?

When a sole qualified partner in a contracting business passes away, the law stipulates that the contractor's license becomes automatically suspended after a specified period. In Nevada, this period is set at 60 days following the death of the qualified partner. This regulation is in place to provide a timeframe for the business to transition, allowing time for an orderly shutdown or for the remaining partners to address the situation, such as finding a replacement qualified partner or managing the business affairs in light of this significant event. It ensures compliance with licensing laws while respecting the realities a business faces during such a difficult time.