- (a) In the event there is a change in ownership of twenty-five percent (25%) or more, the permit holder must resubmit the information required by this subpart.
- (b) Said amended information shall be submitted to the Arkansas Tobacco Control within thirty (30) days of said change in ownership.
- (c) If after review of the amended information, the Arkansas Tobacco Control Board determines that a permit would not have originally been granted to the legal entity had the original ownership and information been as reflected in the amended information, the board shall have the authority to revoke any permit, after a hearing.
- (d) This section shall not apply to publicly traded corporations.