California Codes, Business and Professions Code - BPC, Division 3 — Professions and Vocations Generally, Chapter 9 — Contractors, Article 2 — Application of Chapter, Section 7029
A joint venture license is a license issued to any combination of individuals, corporations, limited liability companies, partnerships, or other joint ventures, each of which holds a current, active license in good standing. A joint venture license may be issued in any classification in which at least one of the entities is licensed. An active joint venture license shall be automatically suspended by operation of law during any period in which any member of the entity does not hold a current, active license in good standing.
Notes
Defines a joint venture license as a license issued to a combination of individuals, corporations, limited liability companies, partnerships, or other joint ventures whose members each hold a current, active license in good standing. It may cover any classification held by at least one member and is automatically suspended whenever any member loses that status.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 7029 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-9/article-2/section-7029