§ 500.36. Issuance of licenses--Duration--Nontransferability--Display--Surrender--Notice of dis...
Oklahoma Statutes AnnotatedTitle 68. Revenue and Taxation
68 Okl.St.Ann. § 500.36
§ 500.36. Issuance of licenses--Duration--Nontransferability--Display--Surrender--Notice of discontinuance, sale or transfer of business
C. No license is transferable to another person or to another place of business. For purposes of this section, a transfer of a majority interest in a business association, other than a publicly held association, including corporations, partnerships, trusts, joint ventures and any other business association shall be deemed to be a transfer of any license held by the business association to another person. Any substantial change in ownership of a business association, other than a publicly held business association, shall be reported to the Commission pursuant to rules promulgated by the Commission.
F. Whenever any person licensed to do business under this act1 discontinues, sells, or transfers the business, the licensee shall immediately notify the Commission in writing of the discontinuance, sale, or transfer. The notice shall give the date of discontinuance, sale, or transfer and in the event of the sale or transfer of the business, the name and address of the purchaser or transferee. The licensee shall be liable for all taxes, interest, and penalties that accrue or may be owing and any criminal liability for misuse of the license that occurs prior to issuance of the notice.
Credits
Laws 1996, c. 345, § 36, eff. Oct. 1, 1996.
Footnotes
Title 68, § 500.1 et seq.
68 Okl. St. Ann. § 500.36, OK ST T. 68 § 500.36
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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