Okla. Admin. Code § 442:10-10-1

Current through Vol. 42, No. 3, October 15, 2024

Section 442:10-10-1 - Certificate of Authority

(a) In the event that a licensed dispensary, grower, or processor is foreclosed, is the subject of an order appointing a receiver, becomes insolvent or bankrupt, or otherwise ceases operations, a temporary Certificate of Authority may be issued to a secured party, court-appointed receiver, trustee, court-appointed personal representative, or other individual determined by the Authority to have legal authority over the operation and/or disposition of the assets of the licensee. The temporary Certificate of Authority shall authorize the holder to continue operation, without obtaining a separate license, at a licensed dispensary, grower, or processor for a reasonable period of time for the orderly disposition of the business.

(b) A secured party, court-appointed receiver, trustee, personal representative, or other person requesting a Certificate of Authority must meet the requirements set forth in OAC 442:10-5-3 and OAC 442:10-5-3.2. A party that is issued a Certificate of Authority is subject to the same restrictions and obligations as any commercial licensee.

(c) A person requesting a temporary Certificate of Authority shall submit the form documentation provided by the Authority in a manner prescribed by the Authority.

(d) There shall be no additional fee for a Certificate of Authority to operate a grower, processor, or dispensary.

(e) A request for Certificate of Authority shall include the following documentation:

(1) Documents establishing proof of identity as established in OAC 442:10-1-7(b) (relating to proof of identity);

(2) If applicable, a list of all owners and principal officers of the applicant and supporting documentation, including, but not limited to: certificate of incorporation, bylaws, articles of organization, operating agreements, certificate of limited partnership, resolution of a board of directors, or other similar documents;

(3) Documents establishing the applicant, the members, managers, and board members, if applicable, and seventy-five percent (75%) of the ownership interests are Oklahoma residents as established in 63 O.S. § 420 et seq., and OAC 442:10-1-6 (relating to proof of residency;

(4) A criminal background check conducted by the Oklahoma State Bureau of Investigation establishing that the applicant does not have a disqualifying criminal conviction.

(5) A receiver, personal representative, or trustee must provide the Authority with the following information:

(A) Official documentation proving that the person is the legal trustee, receiver, or personal representative for the business, or otherwise has legal authority over the operation and/or disposition of assets of the licensee, such as a court order, letters of administration, or other official documentation the Authority deems sufficient.

(B) Any further documentation the Authority determines is necessary to ensure the secured party is qualified under Oklahoma law and this Chapter.

(6) A secured party must provide the Authority with the following information and documents:

(A) Proof of a security interest in the licensed business;

(B) Proof of the licensee's default on the secured debt;

(C) Proof of legal access to the real property; and

(D) Any further documentation the Authority determines is necessary to ensure the secured party is qualified under Oklahoma law and this Chapter.

Okla. Admin. Code § 442:10-10-1

Adopted by 40 Ok Reg 382, eff 11/1/2022 (emergency); Adopted by Oklahoma Register, Volume 40, Issue 22, August 1, 2023, eff 8/11/2023