Okla. Admin. Code § 475:10-1-22

Current through Vol. 42, No. 4, November 1, 2024

Section 475:10-1-22 - [Effective until 9/14/2025] Termination of registration

(a) The registration of any person or entity shall terminate if and when such registrant dies, ceases legal existence, or discontinues business or professional practice including, but not limited to, full retirement. Any registrant who discontinues business or professional practice and/or no longer holds a valid Oklahoma license of the profession or occupation shall notify the OBN within one (1) business day of such fact.

(b) Pursuant to 63 O.S. § 2-302(L), failure to maintain an active, valid professional or occupational license, will result in automatic termination of the OBN registration as a matter of law. Substantive changes made to any corresponding professional or occupational license without prior notice to the OBN and without submission of a new application will result in automatic termination of the existing OBN registration as a matter of law. Examples of substantive changes specifically include a change of ownership, a change of name, a change of address, a change of license or registration type, or a change of business type.

(c) If a registrant dies or is otherwise incapacitated, the estate of the registrant or legal representative of the registrant shall immediately notify the OBN and make all efforts to secure and account for all controlled dangerous substances of the registrant.

(1) If the registrant is a legal entity with more than one direct beneficial owner and one of the direct beneficial owners dies or is otherwise incapacitated, it is presumed that the remaining ownership will assume control of the legal entity so long as the remaining ownership meets eligibility requirements. The OBN shall be notified immediately, and the legal entity may remain operational with the remaining eligible ownership.

(2) If the registrant is a legal entity with a single owner, or the remaining ownership is ineligible to assume complete ownership and control of the legal entity, the estate of the registrant and remaining ownership shall immediately obtain written authorization from the professional or occupational licensing board or authority granting a designated representative a reasonable period of time, not to exceed sixty (60) days, for the orderly disposition of assets of the legal entity and immediately notify the OBN. The OBN registration shall terminate upon the disposition of all assets or after sixty (60) days, whichever is first.

Okla. Admin. Code § 475:10-1-22

Amended at 12 Ok Reg 2835, eff 7-15-95; Amended at 29 Ok Reg 1312, eff 6-25-12

Amended by Oklahoma Register, Volume 36, Issue 21, July 15, 2019, eff. 7/25/2019

Amended by Oklahoma Register, Volume 41, Issue 1, September 15, 2023, eff. 8/10/2023, exp. 9/14/2024 (Emergency)

Amended by Oklahoma Register, Volume 41, Issue 21, July 15, 2024, eff. 8/4/2024

Amended by Oklahoma Register, Volume 42, Issue 1, September 16, 2024, eff. 8/16/2024, exp. 9/14/2025 (Emergency)