R 432.521 Required notification of anticipated or actual changes in key persons.

Rule 521. A licensee or applicant must notify the board within 5 business days of any change in a key person. If the change results in a new key person who was not previously found eligible and suitable as part of the relevant licensee’s license or the relevant applicant’s application, the new key person must file an application and disclosure forms, in the manner and form prescribed by the board, within 30 days of the change. If the board finds that the new key person is ineligible or unsuitable for licensure under the act and these rules, the person must not perform any duties or exercise any powers of the position that resulted in the person’s classification as a key person.