Rhode Island § 19-14-11 § 19-14-11. Prohibition or transfer or assignment of license.

Rhode Island Statutes

§ 19-14-11 — § 19-14-11. Prohibition or transfer or assignment of license.

Rhode Island·Title 19 Financial institutions·Ch. 19-14 Licensed Activities

§ 19-14-11. Prohibition or transfer or assignment of license.
No license shall be transferable or assignable. A change in ownership of less than
            twenty-five percent (25%) of the voting stock or equity interests of a licensee shall
            not be considered a transfer or assignment of the license. A change in ownership of
            twenty-five percent (25%) or more of the voting stock or equity interests shall require
            notification to the director within fifteen (15) days of the change in ownership.
            Change in ownership application procedures, including reasonable response time requirements,
            shall be established by regulations promulgated by the director, or the directo

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§ 19-14-11. Prohibition or transfer or assignment of license.

No license shall be transferable or assignable. A change in ownership of less than twenty-five percent (25%) of the voting stock or equity interests of a licensee shall not be considered a transfer or assignment of the license. A change in ownership of twenty-five percent (25%) or more of the voting stock or equity interests shall require notification to the director within fifteen (15) days of the change in ownership. Change in ownership application procedures, including reasonable response time requirements, shall be established by regulations promulgated by the director, or the director's designee.

Rhode Island § 19-14-11 (§ 19-14-11. Prohibition or transfer or assignment of license.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.