Md. Code Regs. 14.17.16.01

Current through Register Vol. 51, No. 24, December 2, 2024

Section 14.17.16.01 - Conditions of Ownership and Control

A. An individual who holds any amount of ownership interest or control in a cannabis licensee shall be 21 years old or older.

B. The requirement in §A of this regulation does not apply to beneficiaries of ownership interests held in a trust if:

(1) The trustee is 21 years old or older; and

(2) Ownership interests do not vest prior to the beneficiary's 21^st birthday.

C. The Administration may force divestiture of an individual with ownership interest or control from the licensed business if they are convicted or plead nolo contendere to a crime involving moral turpitude, whether or not any appeal or other proceeding is pending to have the conviction or plea set aside.

D. Transfers.

(1) A person wishing to hold an ownership interest of greater than 5 percent or control in a cannabis license shall comply with the application requirements under Alcoholic Beverages and Cannabis Article, §36-502, Annotated Code of Maryland.

(2) A license issued, regulated, or otherwise authorized under this subtitle shall only be transferred in accordance with Alcoholic Beverages and Cannabis Article, §36-503, Annotated Code of Maryland.

(3) Applicants and transferees under this chapter shall submit to a criminal history record check in accordance with Alcoholic Beverages and Cannabis Article, §36-505, Annotated Code of Maryland.

Md. Code Regs. 14.17.16.01

Regulation .01 adopted effective 50:14 Md. R. 559, eff. 7/1/2023 (EMERGENCY); adopted effective 51:14 Md. R. 676, eff. 6/7/2024, exp. 8/31/2024 (Emergency); adopted effective 51:14 Md. R. 678, eff. 7/22/2024.