1. (1) Applicants and licensees must create and maintain complete lists of all individuals and legal entities that hold a financial interest in the entity, including contact information for each individual or entity and a description of their financial interest. Applicants and licensees must provide the information required by this section to the Authority within 15 calendar days of the Authority’s written request for such information.

2. (2) If a legal entity holds a financial interest, the following individuals within the legal entity also hold a financial interest:

   1. (a) For limited partnerships, each general partner in the limited partnership.
   2. (b) For limited liability companies, each manager and managing member of the limited liability company.
   3. (c) For for-profit corporations, each principal officer of the corporation.
   4. (d) For non-profit entities, each principal officer of the entity.
3. (3) The Authority may refuse to issue a license if an applicant does not satisfy the requirements of section (1) of this rule.
4. (4) The Authority shall deny an application for a manufacturer license if an individual or legal entity that holds a financial interest in the entity proposed to be licensed holds a financial interest in another manufacturer license.
5. (5) The Authority shall deny an application for a service center license if an individual or legal entity that holds a financial interest in the entity proposed to be licensed holds a financial interest in five or more service center licenses.

Statutory/Other Authority

ORS 475A.235 & ORS 475A.245

Statutes/Other Implemented

ORS 475A.235, ORS 475A.245 & ORS 475A.280

History

PH 206-2022, adopt filed 12/27/2022, effective 12/27/2022