Tenn. Comp. R. & Regs. 0680-01-.11 - JOINT VENTURES

(1) A joint venture provides a means by which licensed contractors may combine their monetary limitations in order to undertake a larger project than each would otherwise be able to perform as separate contractors. No contractor may participate in a joint venture unless:

(a) he is licensed in a classification which is a necessary and integral part of the total project; and

(b) the monetary limitation on such classification is equal to or greater than the portion of the total cost of the project involving that classification.

Notes

Tenn. Comp. R. & Regs. 0680-01-.11

Original rule filed July 22, 1974; effective August 21, 1974. Repeal and new rule filed January 20, 1977; effective February 19, 1977. Amendment filed May 19, 1980; effective July 3, 1980.

Authority: T.C.A. § 62-609.