§ 28-410.7.4 Ownership limitations.
AC § 28-410.7.4
An individual who is a licensed master fire suppression piping contractor whose interest or ownership in a master fire suppression piping contractor business constitutes any portion of the 51 percent interest or control required by this section 28-410.7 shall be allowed to possess an interest or ownership in only one other fire suppression piping contractor business where such interest or ownership would constitute any portion of the 51 percent interest or control required by this section 28-410.7. Both fire suppression piping contractor businesses in which the licensed master fire suppression piping contractor has an interest shall be located at the same place of business. For the purposes of this section 28-410.7, where two or more individuals who are licensed master fire suppression piping contractors possess an interest or ownership in any master fire suppression piping contractor business that together represents more than 51 percent of the interest or control of such entity, all of such licensees shall be deemed to possess a portion of the 51 percent interest or control required by this section 28-410.7. (Am. L.L. 2021/126, 11/7/2021, eff. 11/7/2022) Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2021/126.
