"The person applying for an electrical contractor certification shall be the owner of the contracting business, a partner in the contracting business applying on behalf of the partnership, or the chairman of the board or chief executive officer applying on behalf of the contracting corporation. A person who holds an electrical contractor certification shall be a certified master electrician or employ one or more certified master electricians."
Remember each municipality handles their own licensing. I believe a statewide license will become available in 2010.
Even with statewide licensing each municipality still requires licenses for contracting, but yes, you either are a master electrician or employ one to be a contractor.