Mich. Admin. Code R. 436.1049 - Transfer of license or corporate stock while an alleged violation is pending final disposition
Rule 49.
(1) If the
licensee has been cited in a violation report, a transfer of a license shall
not be completed before final disposition of the alleged violation.
(2) If the licensee has been cited in a
violation report, a transfer of more than 10% in the aggregate of the stock of
a licensed corporation or a transfer of 10% or more in the aggregate of the
membership in a limited liability company shall not be completed before final
disposition of the alleged violation.
(3) A licensee shall not transfer a license,
transfer an interest in a license, or remove a license from escrow with the
commission until that licensee has paid all outstanding fines, fees, or charges
levied by the commission, except upon prior written order of the
commission.
Notes
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