Went to inspect a 400 amp service today for a storage building. The electrician mounted an underground meter socket feeding a panel with 500MCM. The problem... The panel was 120/240 single phase. Main Lug Only,40 circuit. No main breaker.

He said that he was only installing 3 2-pole breakers to feed the buildings and didn't need a main because it was less than 6 switches. He also said that this installation has been approved before (on a smaller scale) on bill boards.

Am I wrong not to approve this installation?

I couldn't find anything, scanning through fast, in the NEC stating how to assure that no more than 6 mains are installed in the future.

Also, I could not find a label on this panel saying "Suitable for use as service equipment".