Post Approval Monitoring After Approval Of Delayed Licensing

Post Approval Monitoring After Approval Of Delayed Licensing. The partnership agreement of a limited partnership that seeks delayed licensing must obtain language to the effect that the licensing of any limited partner granted delayed licensing may be activated at any time pursuant to this regulation. The granting of delayed licensing to a limited partner by the Commission shall be a revocable approval. The Executive Director and Commission shall not relinquish jurisdiction. Any limited partner receiving approval for delayed licensing from the Commission has no legal vested right or privilege inherent in that approval, nor shall the limited partners that have been granted delayed licensing accrue any privilege in the licensing of the limited partnership. (Adopted: 09/25/1991.)