R 432.21803 Supplier license expiration; supplier license void on ownership change.

Rule 803. (1) A supplier license shall expire at midnight on September 30 and is renewable annually upon the submission of a renewal application, provided by or approved in writing by the bureau, unless summarily suspended, suspended, denied, or revoked by the commissioner. (2) If the ownership changes or any portion of ownership of the privately held corporation, partnership, or sole proprietorship acting as a licensed supplier changes, except for deletion of owners or changes in percentage of ownership, then the license issued to that privately held corporation, partnership, or sole proprietorship shall be void and returned to the bureau without delay.