§ 32B-11-209. Notifying department of change in ownership.

Latest version.

The commission may suspend or revoke a manufacturing license if the manufacturing licensee does not immediately notify the department of a change in:

(1) ownership of the manufacturing licensee;

(2) for a corporate owner, the:

(a) corporate officers or directors; or

(b) shareholders holding at least 20% of the total issued and outstanding stock of the corporation; or

(3) for a limited liability company:

(a) managers; or

(b) members owning at least 20% of the limited liability company.

Enacted by Chapter 276, 2010 General Session

                    
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