Section 3.306.040. Ownership change to be reported.

	(a)  A licensed marijuana establishment shall, not later than 10 days after an ownership change, report the change on a form prescribed by the board.  
	(b)  If any change required to be reported under this section will result in a change in controlling interest of the marijuana establishment license, the marijuana establishment must file an application for transfer of license to another person under 3 AAC 306.045.  
	(c)  In this section, "ownership change" means  
		(1) if the licensee is a partnership, including a limited partnership, any change in the identity of the partners, or in the ownership percentages held by any partners;  
		(2) if the licensee is a limited liability company, any change in the identity of the members, or in the ownership percentage held by any member; or  
		(3) if the licensee is a corporation, any sale of corporate stock to a person not currently an owner, or any change of the percentage ownership of an existing shareholder.  

Authorities

17.38.010;17.38.070;17.38.121;17.38.150;17.38.190;17.38.200;17.38.900

Notes

Authority

AS 17.38.010 AS 17.38.070 AS 17.38.121 AS 17.38.150 AS 17.38.190 AS 17.38.200 AS 17.38.900

History

Eff. 2/21/2016, Register 217