Regulation .15 Changes in Ownership.
Regulation .15 Changes in Ownership.LinkCopy Citation
A.
General.
(1)
A retailer license may not be transferred.
(2)
A change in ownership of a retailer’s business:
(a)
Automatically voids the existing retailer license; and
(b)
Requires an application for a new license.
(3)
A change of ownership includes:
(a)
A transfer of ownership of the retailer’s business;
(b)
The addition of an owner that was not on the original license application; or
(c)
Except as provided in §A(4) of this regulation, a change to the retailer’s business
(4)
A change of ownership does not include a voluntary or involuntary transfer of an interest in the retailer’s business to a person identified as an owner on the license.
B.
Retailer Responsibilities.
(1)
A retailer that transfers ownership:
(a)
Is responsible for all tickets, lottery equipment, and receipts from lottery sales; and
(b)
Remains responsible for fulfilling all obligations to the Agency until the change of ownership is approved and the Agency issues a new license.
(2)
A new owner of the business may apply for a license under COMAR 36.02.02 or relinquish lottery equipment remaining on the premises.