If at any time during the valid period of a certificate of qualification the latest statement of a contractor on record with an entity ceases to represent fairly and substantially the financial position or the equipment of the contractor, the contractor shall do the following until the contractor's qualification is confirmed or revised:

1. (1) Notify the entity prequalification administrator of the change of circumstances.
2. (2) Refrain from further bidding on contracts for which the entity has required prequalification.

As added by P.L.85-1991, SEC.3.