Closure of principal or branch office.

1. A licensee may not close a principal office or a branch office until: (a) The licensee has returned his or her license; and (b) The Commissioner has approved the closure. 2. The request for approval of the closure of the principal office of the licensee or a branch office of the licensee must contain the following information: (a) The status of any incomplete contracts for covered services and the manner in which they will be finalized; (b) An accounting of any trust account maintained by the licensee and the plan for distribution of money in the account; (c) If any person employed by or otherwise associated with the licensee has been terminated from such employment or association, evidence of the termination; and (d) The location within or outside of this State where records of the licensee will be maintained.