Registration required conditions

A contractor doing business in this state shall register with the director and shall meet all of the following requirements as a condition of registration: 1. The contractor shall be in compliance with the laws of this state relating to workers’ compensation insurance and shall provide evidence of workers’ compensation insurance coverage annually, of relief from the insurance requirement pursuant to section 87.11, or a statement that the contractor is not required to carry workers’ compensation coverage. Notice of a policy’s cancellation shall be provided to the director by the insurance company. 2. The contractor shall possess an employer account number or a special contractor number issued by the department of workforce development pursuant to chapter 96, the Iowa employment security law. 3. An out-of-state contractor shall either file a surety bond, as provided in section 91C.7, with the department in the amount of twenty-five thousand dollars or shall provide a statement to the department that the contractor is prequalified to bid on projects for the department of transportation pursuant to section 314.1.