HAR §11-850-15. Minimum qualifications for applying entity

An applying entity shall: (1) Be organized under the laws of the State; (2) Have a Hawaii tax identification number; (3) Have a department of commerce and consumer affairs business registration division number and suffix; (4) Have a federal employer identification number; (5) Not be less than fifty-one per cent held by Hawaii legal residents or entities wholly controlled by Hawaii legal residents who have been legal residents for not less than five years immediately preceding the date the application was submitted; (6) Have financial resources under its control of not less than $1,000,000 for each license applied for, plus not less than $100,000 for each retail dispensing location allowed under the license applied for, in the form of bank statements or escrow accounts, and those financial resources shall have been under the control of the applying entity for not less than ninety days immediately 850-22 3611.1 §11-850-16 preceding the date the application was submitted; and (7) Be composed of owners, principals, or members, each of whom is not less than twenty-one years of age and has no felony convictions or any other disqualifying background history in accordance with section 11-850-17. [Eff 12/14/15; am and comp 2/24/22; comp 4/29/22; am and comp 11/17/22; comp 8/7/23; comp 4/5/24; comp 12/6/24; comp NOV 17 2025 ] (Auth: HRS §§321-9, 329D-7, 329D-27) (Imp: HRS §§329D-3, 329D-7)