Change in ownership.

(a) In order to change ownership of a license, all of the following must be filed with the Commissioner on behalf of the new owner or owners: (1) An application. (2) A financial statement of the new owner or owners. (3) Personal financial statements of all individuals, partners, or stockholders holding at least 10% of the corporate stock. (4) A copy of the agreement of the terms of the sale or other exchange of financial interest, including stock distribution. (5) Copy of all documents explaining interest and profit/loss distribution. (6) Any application fee required by the Commissioner. (7) Any other documents requested by the Commissioner. (b) A change in ownership includes a change in the entire ownership, change in the partial ownership, or the sale or exchange of shares of stock by stockholders.