Finding Of Suitability Of A Person Holding An Option To Acquire An Interest In A

Finding Of Suitability Of A Person Holding An Option To Acquire An Interest In A General Partnership, Limited Partnership, Or Corporate Licensee. (a) No person shall acquire or be granted an option to purchase an interest in a general partnership, limited partnership, or corporate licensee without first notifying the Executive Director, on such forms as may be required by the Executive Director, of the terms and conditions upon which the option was granted or acquired. (b) The Commission may, upon a recommendation by the Executive Director, require the application of any person for a determination of suitability to hold an option to purchase or otherwise obtain an interest in a general partnership, limited partnership, or corporate licensee. (Adopted: 09/25/1991.)