1. (1) An applicant for a license shall provide the name and address of any individual who has:

   1. (a) for a publicly traded company, a financial or voting interest of 10% or greater in the specialized product retailer;
   2. (b) for a privately held company, a financial or voting interest in the specialized product retailer; or
   3. (c) the power to direct or cause the management or control of the specialized product retailer.

2. (2) The department may not issue a license to an applicant if an individual described in Subsection (1) has been convicted under state or federal law of:

   1. (a) a felony in the preceding 10 years;
   2. (b) a crime involving a nicotine containing product; or
   3. (c) after December 3, 2018, a misdemeanor or felony for drug distribution.

Enacted by Chapter 420, 2026 General Session