WAC 314-07-080. Ownership changes

(1) Licensees must receive prior board approval before making any of the following ownership changes (see WAC 314-07-035 for the definition of "true party of interest"): Type of change Type of application Fee Change in the qualifying persons in a: Sole proprietorship, general partnership, limited partnership, or limited liability partnership. New application Annual fee for current license privilege. Change in the qualifying persons for a publicly or privately held corporation. The board will waive the fee for a corporate change when the proposed change consists solely of dropping an approved officer. Application for change in corporate officer and/or stockholder $112.50 Change in the qualifying persons in a limited liability company. Application for change of limited liability company member and/or manager $112.50 Type of change Type of application Fee Change in the qualifying persons in a: Sole proprietorship, general partnership, limited partnership, or limited liability partnership. New application Annual fee for current license privilege. Change in the qualifying persons for a publicly or privately held corporation. The board will waive the fee for a corporate change when the proposed change consists solely of dropping an approved officer. Application for change in corporate officer and/or stockholder $112.50 Change in the qualifying persons in a limited liability company. Application for change of limited liability company member and/or manager $112.50 (2) The board may inquire into all matters in connection with any such sale of stock/units or proposed change in officers/members. (3) The "proposed sale of more than 10 percent of the stock/units" will be calculated as a cumulative total and must be reported to the board when the accumulation of stock/units transfers or newly issued stock/units totals more than 10 percent of the outstanding and/or issued stock/units of the licensed corporation or limited liability company.