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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 765. Oklahoma Used Motor Vehicle and Parts Commission |
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Chapter 40. Crushers |
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Subchapter 1. Licensing Qualifications, Procedures and Fees |
SECTION 765:40-1-8. Changes
Latest version.
- (a) Ownership. A change of ownership, including a change in a primary stockholder in the case of a corporation, or membership in the case of a limited liability company, shall require a new application and approval by the Commission before the business may begin operation.(b) Notification. A change of ownership or any other change, such as a change of name or address, which makes Commission records no longer accurate must be reported to the Commission immediately in writing on forms prescribed by the Commission for approval by the Commission. The crusher must meet all the requirements as prescribed for licensing. The Commission may revoke or suspend a license after it has been granted for change of condition resulting in failure to maintain the qualifications for license. Failure to complete the requirements for licensing after change of conditions within thirty (30) days shall result in suspension of the dealer's license until the licensing requirements are met.