Section 36-503 - License transferability(a) A cannabis license granted under this title is not transferable except as provided in this section.(b) To transfer ownership or control of a license issued under this title, a licensee: (1) shall submit to the Administration: (i) an application fee in an amount to be determined by the Administration in accordance with this subtitle; and(ii) an application developed by the Administration; and(2) must meet the requirements for transfer of ownership or control established by the Administration under this title.(c)(1) A cannabis licensee, including a cannabis licensee whose license was converted in accordance with § 36-401 of this title, may not transfer ownership or control of the license for a period of at least 5 years following licensure.(2) The 5-year period specified in paragraph (1) of this subsection does not include the time period that a business is considered by the Administration to be in a preapproved licensure status.(3) The limitations under this subsection do not apply to transfers as a result of the disability, incapacity, or death of the owner of a cannabis license, bankruptcy or receivership in accordance with a lending agreement of a cannabis licensee, or court order.(4) The limitations under this subsection do not apply to a transfer of ownership that is the subject of a legally binding settlement agreement resulting from litigation commenced on or before January 1, 2023.Added by 2023 Md. Laws, Ch. 255, Sec. 5, eff. 5/3/2023.Added by 2023 Md. Laws, Ch. 254, Sec. 5, eff. 5/3/2023.