1. (a) The registration of any person or entity shall terminate if and when such registrant dies, ceases legal existence, or discontinues business or professional practice including, but not limited to, full retirement. Any registrant who discontinues business or professional practice and/or no longer holds a valid Oklahoma license of the profession or occupation shall notify the OBN within one (1) business day of such fact.
2. (b) Pursuant to 63 O.S. § 2-302(L), failure to maintain an active, valid professional or occupational license, will result in automatic termination of the OBN registration as a matter of law.
3. (c) If a registrant dies or is otherwise incapacitated, the estate of the registrant or legal representative of the registrant shall promptly notify the OBN and make all efforts to secure and account for all controlled dangerous substances of the registrant.
4. (1) If the registrant is a legal entity with more than one beneficial owner and one of the beneficial owners dies or is otherwise incapacitated, it is presumed that the remaining ownership will assume control of the legal entity so long as the remaining ownership meets eligibility requirements. The OBN shall be notified promptly, and the legal entity may remain operational with the remaining eligible ownership.
5. (2) If the registrant is a legal entity with a single owner, or the remaining ownership is ineligible to assume complete ownership and control of the legal entity, the estate of the registrant and remaining ownership shall immediately obtain written authorization from the professional or occupational licensing board or authority granting a designated representative a reasonable period of time, not to exceed sixty (60) calendar days, for the orderly disposition of assets of the legal entity and immediately notify the OBN. The OBN registration shall terminate upon the disposition of all assets or after sixty (60) calendar days, whichever is first.

Amended at 12 Ok Reg 2835, eff 7-15-95

Amended at 29 Ok Reg 1312, eff 6-25-12

Amended at 36 Ok Reg 981, eff 7-25-19

Amended at 41 Ok Reg, Number 21, effective 8-4-24

<div>Amended at 42 Ok Reg, Number 1, effective 8-16-24 (emergency)</div>

Amended at 42 Ok Reg, Number 21, effective 7-25-25