The application documents shall:

1. A. State whether another entity has a beneficial ownership in the applicant, as defined in Business Regulation Article, §11-301, Annotated Code of Maryland;

2. B. Describe the:

   1. (1) Nature of the beneficial ownership, and
   2. (2) Extent of control exercised by the beneficial owner; and
3. C. Include information and documents required under Regulations .10 —.15 of this chapter as to each beneficial owner.

Authority: Business Regulation Article, §11-210, Annotated Code of Maryland

Effective date: December 13, 1999 (26:25 Md. R. 1897)