Contractors: license requirements: bond.

Existing law, the Contractors' State License Law, provides for the licensure and regulation of contractors by the Contractors' State License Board. Existing law requires the board, as condition to the issuance, reinstatement, reactivation, renewal, or continued maintenance of a license, that the applicant or licensee file or have on file a bond for $12,500. Except for certain claims brought by homeowners relating to personal family residences, existing law provides that a claim against the bond may not exceed $7,500. This bill would expand the exception to also include certain property owners related to single-family dwellings. The bill would also limit the recovery by a material supplier to an amount not exceeding $4,000.