Idaho Code 26-2913 – Changes in Control of a License
Current as of: 2023 | Check for updates
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(1) Within fifteen (15) days of a change or acquisition of control of a licensee that is a publicly traded corporation or is a direct or indirect subsidiary of a publicly traded corporation, the licensee shall provide notice of such event to the director in writing.
(2) Licensees other than publicly traded corporations or direct or indirect subsidiaries of publicly traded corporations must notify the director in writing thirty (30) days prior to a change of control.
Terms Used In Idaho Code 26-2913
- Control: means ownership of, or the power to vote, twenty-five percent (25%) or more of the outstanding voting securities of a licensee or controlling person. See Idaho Code 26-2902
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Director: means the director of the department of finance. See Idaho Code 26-2902
- Licensee: means a person licensed under the provisions of this chapter. See Idaho Code 26-2902