Okla. Admin. Code § 765:40-1-8

Current through Vol. 42, No. 7, December 16, 2024

Section 765:40-1-8 - Changes

(a)Ownership. A change of ownership, including a change in a primary stockholder in the case of a corporation, or membership in the case of a limited liability company, shall require a new application and approval by the Commission before the business may begin operation.

(b)Notification. A change of ownership or any other change, such as a change of name or address, which makes Commission records no longer accurate must be reported to the Commission immediately in writing on forms prescribed by the Commission for approval by the Commission. The crusher must meet all the requirements as prescribed for licensing. The Commission may revoke or suspend a license after it has been granted for change of condition resulting in failure to maintain the qualifications for license. Failure to complete the requirements for licensing after change of conditions within thirty (30) days shall result in suspension of the dealer's license until the licensing requirements are met.

Adopted by Oklahoma Register, Volume 32, Issue 23, August 17, 2015, eff. 8/27/2015