ARSD 20:07:19:04.01. Change of control -- Application required

If there is a change of control of a licensee, the individual or entity assuming control of the licensee shall file an application with the division, on forms provided by the division and comply with the requirements and qualifications of an applicant as set forth in SDCL chapter 54-14 and the provisions of this chapter. Any change of control application shall be accompanied by a fee equal to the amount required for a renewal application as established in § 20:07:19:03. For purposes of this section, change of control is defined as ownership of, or the power to vote, twenty-five percent or more of the outstanding voting shares of a licensee or controlling person.