Can the same person serve as the qualifier for more than one license?
A person may act as a qualifying individual for more than one active license only if one of the following conditions exists: • There is a common ownership of at least 20 percent of the equity of each firm for which the person acts as a qualifier; • The additional firm is a subsidiary of or a joint venture with the first; or • The majority of the partners or officers are the same. Even if he or she meets the above conditions, A PERSON MAY SERVE AS THE QUALIFYING INDIVIDUAL FOR NO MORE THAN THREE FIRMS IN ANY ONE-YEAR PERIOD. If a qualifier disassociates from the third firm, he or she must wait one year before associating with a new third firm. A Responsible Managing Employee (RME) can only act as a qualifying individual for one active license at a time.
