N.Y. Comp. Codes R. & Regs. tit. 9 § 121.3

Current through Register Vol. 46, No. 36, September 4, 2024

Section 121.3 - Continuing Duty to Disclose and Failure to Disclose Notification

(a) Social and economic equity applicants shall have a continuing duty to disclose any material changes in the information provided to the Office, as required in this Part, for the duration of the license. The Office will endeavor to identify all social and economic equity qualifying licensees, regardless of whether such licensee applied as a social and economic equity applicant.

(b) Any changes that would impact a social and economic equity licensee's status shall require notice to the Office and prewritten approval of the Board.

(c) Failure to notify the Office of any material change in the information provided may be sufficient grounds for enforcement action against the licensee, pursuant to Part 133 of this Title, including, but not limited to, suspension, revocation, or denial of any license.

(d) Whistleblower, Complaint and Recourse.

(1) If at any time any owner, director, investor, board member or employee of a social and economic equity licensee has reason to believe that the business failed to disclose any material changes to the information provided to the Office, including changes to status as a business owned by an individual from a community disproportionately impacted, minority-owned business or women-owned business, service-disabled veteran owned business or distressed farmer, and status in ownership and control, such person may notify the Office for consideration of any enforcement action.

(2) Any such person that notifies the Office for consideration of any enforcement action pursuant to this subdivision shall be given the full protection of article 20-C of the Labor Law.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 121.3

Adopted New York State Register September 27, 2023/Volume XLV, Issue 39, eff. 9/27/2023