1. (a)

   1. (1) A license for the use of a limited liability company shall be applied for and issued to, as individuals:

      1. (i) all of the authorized individuals, if the limited liability company has fewer than three authorized individuals; or
      2. (ii) three authorized individuals, if the limited liability company has three or more authorized individuals.

   2. (2) At least one of the authorized individuals shall:

      1. (i) be a resident of the State at the time the application is filed; and
      2. (ii) remain a resident of the State for the duration of time the license is in effect.

2. (b) An application for a limited liability company license shall include:

   1. (1) the name, address, and signature of each authorized individual to whom the license shall be issued; and
   2. (2) the name and address of the limited liability company.

Added by Acts 2016, c. 41, § 2, eff. July 1, 2016. Amended by Acts 2020, c. 462, § 1, eff. July 1, 2020.