When a dealer applicant is a corporation, the licensee shall be the corporation itself and not the person who is applying on behalf of the corporation. The person who is applying on behalf of the corporation shall be designated by formal action of the corporation's board of directors, and shall be known as the "dealer-designee". The corporation shall be designated as the "dealer." The dealer-designee shall take the dealer's examination and shall answer for the dealer, with respect to all licensing matters.
3 CCR 714-1-C-2