Section 13-09.1-17 - Notice and information requirements for a change of key individuals1. A licensee adding or replacing any key individual shall:a. Provide notice in a manner prescribed by the commissioner within fifteen days after the effective date of the key individual's appointment; andb. Provide information as required by section 13-09.1-12 within forty-five days of the effective date.2. Within ninety days of the date on which the notice provided pursuant to subsection 1 was determined to be complete, the commissioner may issue a notice of disapproval of a key individual if the competence, experience, character, or integrity of the individual would not be in the best interests of the public or the customers of the licensee to permit the individual to be a key individual of the licensee.3. A notice of disapproval must contain a statement of the basis for disapproval and must be sent to the licensee and the disapproved individual. A licensee may appeal a notice of disapproval by requesting a hearing before the commissioner within thirty days after receipt of notice of disapproval in accordance with chapter 28-32.4. If the notice provided pursuant to subsection 1 is not disapproved within ninety days after the date on which the notice was determined to be complete, the key individual is deemed approved.5. If a multistate licensing process includes a key individual notice review and disapproval process pursuant to this section and the licensee avails itself or is otherwise subject to the multistate licensing process:a. The commissioner may accept the determination of another state if the investigating state has sufficient staffing, expertise, and minimum standards for the purpose of this section; orb. If North Dakota is a lead investigative state, the commissioner may investigate the applicant pursuant to subsection 2 and the time frames established by agreement through the multistate licensing process.Added by S.L. 2023 , ch. 137( SB 2119 ), § 2, eff. 7/1/2023.