[ §454M-12] Change in control of a licensee; fees. (a) A licensee shall submit to the commissioner an application requesting approval of a proposed change of control of the licensee, accompanied by a nonrefundable application fee of $500, payable to the division. (b) The commissioner shall approve an application requesting approval of a proposed change of control under subsection (a) if, after investigation, the commissioner determines that: (1) The person or group of persons who will obtain control will be in compliance with this chapter upon approval of the application ; (2) The person or group of persons who will obtain control has the competence, experience, character, and general fitness to control the licensee or person in control of the licensee in a lawful and proper manner; and (3) The interests of the public will not be jeopardized by the change of control. [L 2017, c 46, pt of §1]
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