From Portland Business Brokers Group.
Separate a personnel change from a different business entity
Start with the entity named on the CCB license and compare it with the proposed buyer. Do not assume a license follows equipment or contracts into a different company.
Use the report that matches the change
The CCB reporting guide directs corporate officer or LLC member changes to its Personnel Change form. It has separate procedures for a Responsible Managing Individual change and for name or address updates.
Identify each change rather than sending a general sale announcement. Ask the CCB whether the proposed structure needs updates to an existing license or a separate licensing path.
Keep project continuity on the checklist
- Identify the entity responsible for existing jobs.
- Confirm who fills the RMI role after closing.
- Review bonds, insurance and workers compensation arrangements.
- Document responsibility for warranties and open work.
Sale terms cannot replace the buyer's operating permissions. Verify the position before the buyer advertises, bids or performs work under the new arrangement.
Make the handoff specific
Your agreement should distinguish what the seller finishes from what the buyer assumes. Have the transaction advisers reconcile that plan with the agency's guidance.