Okla. Admin. Code § 765:35-3-7 - Changes
(a)
Ownership. A change of
ownership, including a change in a primary stockholder in the case of a
corporation, or membership in the case of a limited liability company, shall
require a new application and approval by the Commission before the business
may begin operation.
(b)
Notification. A change of ownership or any other change, such as
change of name or address, which makes Commission records no longer accurate
must be reported to the Commission immediately in writing on forms prescribed
by the Commission for approval by the Commission. The dealership must meet all
the requirements as prescribed for licensing. The Commission may revoke or
suspend a license after it has been granted for change of condition resulting
in failure to maintain the qualifications for license.
Notes
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