32B-11-209. Notifying department of change in ownership.
The commission may suspend, revoke, or deem forfeited 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.