Section 40-11-240 - Qualifications for licensure; required submissions(A) To qualify for licensure, an entity must:(1) be a:(a) sole proprietorship or general partnership; or(b) limited partnership, limited liability partnership, limited liability company, or a for profit or nonprofit corporation that is either organized and registered under South Carolina law or is such an entity created under the laws of another state or jurisdiction and is registered with the South Carolina Secretary of State to do business in this State;(2) have a certified qualifying party in a responsible management position; and(3) meet all requirements for licensure as provided in this chapter.(B) To qualify for a license, an entity must submit:(1) a completed application on a form approved by the board;(3) a detailed statement of current financial condition or surety bond as required by this chapter;(4) the name and certificate number of the primary qualifying party for each classification or subclassification for which a license is desired;(5) proof that the entity's primary qualifying party in each classification or subclassification is in a responsible management position; and(6) all documentation required by the department pursuant to the requirements of this chapter.(C) A licensee may list additional qualifying parties.(D) A change of an entity's name, organizational status, or federal employer identification number must be reported to the department within fifteen days. Failure to do so results in license cancellation fifteen days from the date of change and requires the new entity to submit an initial application and meet all requirements for licensure.Amended by 2023 S.C. Acts, Act No. 69 (HB 4115),s 7, eff. 5/19/2023.1998 Act No. 440, Section 1.