When must a contractor notify the Registrar of a significant change in ownership?

The correct choice indicates that a contractor must notify the Registrar immediately after a significant change in ownership occurs. This requirement is crucial as it ensures that the licensing authority has up-to-date information about the entity responsible for contracted work. A timely notification helps maintain compliance with regulations affecting licensing, bonding, and insurance, ultimately protecting the interests of both the contractor and the clients involved.

By requiring immediate notification, the statute emphasizes the importance of transparency and accountability in the construction industry. It ensures that any changes in ownership — which can affect a contractor's capabilities, responsibilities, and overall standing — are swiftly communicated to the regulatory body. Other timelines, such as 20 or 30 days, could lead to delays that might impact ongoing projects, client trust, and legal responsibilities. Therefore, the immediate requirement serves to uphold the integrity of the contracting process in Arizona.