WAC 314-35-027:

WACs > Title 314 > Chapter 314-35 > Section 314-35-027

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314-35-025 << 314-35-027 >> 314-35-030

PDFWAC 314-35-027

Qualifying for a vapor product license.

A vapor product license must be issued in the name(s) of the true party(ies) of interest.

(1) True parties of interest must qualify to be listed on the license, consistent with RCW 70.345.020. For purposes of this chapter, "true party of interest" means:

Entity	True Party(ies) of Interest
Sole proprietorship	Sole proprietor and spouse.
General partnership	All partners and spouses.
Limited partnership, limited liability partnership, or limited liability limited partnership	All general partners and spouses.
	All limited partners and spouses.
Limited liability company	All members and spouses.
Limited liability company	All managers and spouses.
Privately held corporation	All corporate officers (or persons with equivalent title) and spouses.
Privately held corporation	All stockholders.
Publicly held corporation	All corporate officers (or persons with equivalent title) and spouses.
Publicly held corporation	All stockholders.
Multilevel ownership structures	All persons and entities that make up the ownership structure.
Any entity or person(s) expecting or receiving profits, or part thereof, or exercising control over a licensed business	Any entity or person who is in receipt of, or has the right to receive profits, or part thereof, from the licensed business during any full or partial calendar or fiscal year.
Any entity or person(s) who exercise(s) control over the licensed business in exchange for money or expertise	Any entity(s) or person(s) and spouses who exercise(s) control over the licensed business in exchange for money or expertise.
Nonprofit corporations	All individuals and spouses, and entities having membership rights in accordance with the provisions of the articles of incorporation or the bylaws.

(2) The board may conduct an investigation of any person or entity who exercises any control over the applicant's or licensee's business operations, including a financial investigation, a criminal history background check, or both. When an entity other than the owner controls daily business operations consistent with an agreement between the owner and the operating entity, the operating entity becomes a true party of interest. The operating entity must meet the same qualifications and requirements as a licensee.

[Statutory Authority: Chapter 70.345 RCW, RCW 82.24.250, 82.32.300, and 2019 c 15 and 2019 c 445. WSR 20-01-074, § 314-35-027, filed 12/11/19, effective 1/1/20.]