Section 32B-11-609 - Notifying department of change in ownershipThe commission may suspend, revoke, or deem forfeited a local industry representative license if a local industry representative licensee does not notify the department, within 60 days after the day on which the change occurs, of a change in:
(1) ownership of the business;(2) for a corporate owner, the: (a) corporate officers or directors; or(b) shareholders holding at least 20% of the total issued and outstanding stock of the corporation; or(3) for a limited liability company: (b) members owning at least 20% of the limited liability company.Amended by Chapter 371, 2023 General Session ,§ 39, eff. 5/3/2023.Enacted by Chapter 276, 2010 General Session.