North Dakota Code 34-13-09 – Transfer of license – Consent to others becoming connected with licensee
No license granted under the terms of this chapter is transferable, except with the consent of the commissioner. No employment agent may permit any person not mentioned in the license to become connected with the business as a partner, as an active officer of a licensed corporation, or as an active manager of a licensed limited liability company unless the consent of the commissioner is first obtained. Such consent may be withheld for any reason for which an original application for a license might have been rejected, if the person in question had been mentioned therein. If such consent is given, the names of the persons so becoming connected with the employment agency must be endorsed upon the license and, if such license is renewed, must be substituted for or added to the names of the persons originally mentioned therein.
Terms Used In North Dakota Code 34-13-09
- 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.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49