The Commissioner may disapprove for cause as defined, but not limited to 4 Del.C. § 543 (a) through (f) any new individuals, officers, directors, partners, stockholders, leases, or debts in connection with a license. All submissions made to the Commissioner in compliance with this Rule shall be approved or disapproved in writing mailed to the license holder or applicant making the submission within sixty (60) days after they are received by the Commissioner.
4 Del. Admin. Code § 301-8.0