A. Except as provided in section 32-4301, a license issued under this chapter shall be suspended on the day following its renewal date by operation of law. An application for renewal of any current contracting license addressed to the registrar, with a valid bond or cash deposit on file with the registrar, accompanied by the required fee and received by the registrar or deposited in the United States mail postage prepaid on or before the renewal date shall authorize the licensee to operate as a contractor until actual issuance of the renewal license. The registrar may refuse to renew a license if a licensee or person has committed or been found guilty of any act listed in section 32-1154.
B. A license which has been suspended by operation of law for failure to renew may be reactivated and renewed within one year of its suspension by filing the required application and payment of the application fee in the amount provided for renewal in this chapter in addition to a fifty dollar fee. When a license has been suspended for one or more years for failure to renew, a new application for a license must be made and a new license issued in accordance with this chapter.
C. A licensee may make written application to the registrar for exemption from a qualifying party. The applicant shall show to the satisfaction of the registrar that during the past five years:
1. The license has been in effect.
2. A transfer of ownership of fifty per cent or more of the stock, if applicable, or beneficial interest, in the licensee has not occurred.
3. No more than five valid complaints which have not been resolved by the licensee, as determined by the registrar, have been filed against the licensee.
The application shall be approved or denied within thirty days after its receipt. If the application is not approved, the licensee may within thirty days request a hearing to be held pursuant to section 32-1156. If the application is approved, the exemption takes effect immediately.
D. A licensee which is exempt from the requirement for a qualifying party pursuant to subsection C of this section may be required by the registrar after a hearing to obtain a qualifying party within sixty days on a finding that:
1. A transfer of ownership of fifty per cent or more of the stock, if applicable, or beneficial interest, in the licensee has occurred.