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PDFWAC 314-07-080

Ownership changes.

(1) Licensees must receive prior board approval before making any of the following ownership changes (see WAC 314-07-035 for the definition of "true party of interest"):
Type of change
Type of application
Change in the qualifying persons in a: Sole proprietorship, general partnership, limited partnership, or limited liability partnership.
New application
Annual fee for current license privilege.
Change in the qualifying persons for a publicly or privately held corporation. The board will waive the fee for a corporate change when the proposed change consists solely of dropping an approved officer.
Application for change in corporate officer and/or stockholder
Change in the qualifying persons in a limited liability company.
Application for change of limited liability company member and/or manager
(2) The board may inquire into all matters in connection with any such sale of stock/units or proposed change in officers/members.
(3) The "proposed sale of more than ten percent of the stock/units" will be calculated as a cumulative total and must be reported to the board when the accumulation of stock/units transfers or newly issued stock/units totals more than ten percent of the outstanding and/or issued stock/units of the licensed corporation or limited liability company.
[Statutory Authority: RCW 66.08.030 and 66.24.010. WSR 10-10-126, § 314-07-080, filed 5/5/10, effective 6/5/10. Statutory Authority: RCW 66.08.030, 66.24.010, 66.24.015, and 66.24.025. WSR 05-07-012, § 314-07-080, filed 3/4/05, effective 4/4/05.]
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