1. a) In addition to the individuals identified in the dispensing organization's by-laws as principal officers, the following individuals are considered principal officers:
2. 1) If a corporation, the officers of the corporation;

3. 2) If a partnership, the partners;

   1. 3) If a limited liability company, the members and managers of the limited liability company;
   2. 4) If an association or cooperative, the members of the association or cooperative;
   3. 5) If a joint venture, the individuals who signed the joint venture agreement; and
   4. 6) If a business organization other than the types listed in subsections (a)(1) through (5), the members of the business organization.
   5. b) A dispensing organization may not be established as a trust. A trust may not have an ownership interest in a registered dispensing organization.
   6. c) If a dispensing organization parent company, holding company or any other entity exerts management or control over the dispensing organization, that entity is a dispensing organization principal officer, including the officers, board members and the individuals with an ownership interest in it that have more than a one percent ownership interest in the dispensing organization.

(Source: Amended at 43 Ill. Reg. 6593, effective May 20, 2019)