Regulation .03 Selection of an Eligible Receiver.
Regulation .03 Selection of an Eligible Receiver.LinkCopy Citation
A.
A creditor may select an eligible receiver who is registered with the Administration to oversee the disposition of a cannabis license if the licensee is the subject of a court order requiring appointment of a receiver.
B.
Within 10 business days of a court order requiring appointment of a receiver, the creditor shall submit to the Administration:
(1)
Proof of the creditor’s secured interest in the proceeds from a sale of the license of the associated licensee;
(2)
Proof of a court order requiring appointment of a receiver; and
(3)
Any additional information requested by the Administration.