Change in ownership; termination of license

Sec. 10. If a change in the ownership of a security guard agency results in the failure to meet the qualifications set forth in section 9 of this chapter: (1) the license for the security guard agency terminates on the date the change in ownership is effective; and (2) the security guard agency must file a new application for a license as a security guard agency with the board. As added by P.L.185-2007, SEC.27.