Alabama § 20-2A-58 Exclusivity of License; Transfer Request

Alabama Statutes

§ 20-2A-58 — Exclusivity of License; Transfer Request

Alabama·Title 20 Food, Drugs and Cosmetics·Ch. 2A Darren Wesley “Ato” Hall Compassion Act·Art. 4 Cultivation, Processing, and Dispensing of Medical Cannabis

(a)Each license is exclusive to the licensee. A license, and any interest in or rights under a license, and any ownership interest or other beneficial interest in a licensed entity, may not be sold, transferred, assigned, conveyed, or otherwise disposed of in any manner, in whole or in part, voluntarily or involuntarily, directly or indirectly, except upon application to and approval of the commission.

(b)A nonrefundable application fee of two thousand five hundred dollars ($2,500) shall be paid to the commission at the time of filing any transfer request under subsection (a).

(c)The attempted transfer, sale, or other conveyance of an interest or right in a license, or transfer of an ownership interest or other beneficial interest in a licensed entity, without the approval of the commis

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(a) Each license is exclusive to the licensee. A license, and any interest in or rights under a license, and any ownership interest or other beneficial interest in a licensed entity, may not be sold, transferred, assigned, conveyed, or otherwise disposed of in any manner, in whole or in part, voluntarily or involuntarily, directly or indirectly, except upon application to and approval of the commission.
(b) A nonrefundable application fee of two thousand five hundred dollars ($2,500) shall be paid to the commission at the time of filing any transfer request under subsection (a).
(c) The attempted transfer, sale, or other conveyance of an interest or right in a license, or transfer of an ownership interest or other beneficial interest in a licensed entity, without the approval of the commission, shall be grounds for suspension or revocation of the license or for other sanction considered appropriate by the commission.

Alabama § 20-2A-58 (Exclusivity of License; Transfer Request) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.