5501.1 For a corporation that holds a medical cannabis business license, if there is a change in corporate officers or directors, or other persons, owning or controlling one percent (1%) or more, but less than fifty percent (50%), of that corporation’s common stock, the corporation shall submit to the Board, within fifteen (15) calendar days of the change, the minutes or other instrument giving the names and addresses of any new officer, director, or person owning or controlling any percentage of the stock.

5501.2 For a partnership or limited liability company that holds a medical cannabis business license, if there is a change in the ownership of the partnership or limited liability company of one percent (1%) or more, but less than fifty percent (50%), of the total ownership interest of the business, the partnership or limited liability company shall submit to the Board in a timely manner, but no later than fifteen (15) calendar days after the change has occurred, the instruments reflecting the change in ownership interests.

5501.3 Within fifteen (15) calendar days of the changes set forth in § 5501.1 and § 5501.2, the individual owner, partnership, limited liability company or partnership, or corporation shall submit to the Board any relevant data pertaining to the personal and business history of any new officer, director, stockholder, member, general or limited partner, or other person that the Board may require, and each new person shall apply for a license as required under this subtitle.

5501.4 Each individual seeking to own or control interest of at least one percent (1%) in a partnership, limited liability company, or corporation shall pass a criminal background check and pay the applicable registration fee as required by the Act and this subtitle.

5501.5 The proposed transferee(s) shall not operate the licensed medical cannabis business until they have received a license issued by the Board.

SOURCE: Emergency and Third Proposed Rulemaking published at 58 DCR 3299 (April 15, 2011)[EXPIRED]; as amended by Emergency and Fourth Proposed Rulemaking published at 58 DCR 7207 (August 12, 2011)[EXPIRED]; as amended by Final Rulemaking published at 58 DCR 10128, 10199 (December 2, 2011); as amended by Final Rulemaking published at 60 DCR 10061 (July 12, 2013); as amended by Final Rulemaking published at 67 DCR 5383 (May 22, 2020); as amended by Final Rulemaking published at 71 DCR 002388 (March 8, 2024); as amended by Final Rulemaking published at 73 DCR 002136 (February 20, 2026).