WAC 315-04-132: Change of business structure, ownership, or officers

Link to law: http://apps.leg.wa.gov/wac/default.aspx?cite=315-04-132
Published: 2015

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WACs > Title 315 > Chapter 315-04 > Section 315-04-132











315-04-130    

315-04-140







Agency filings affecting this section







WAC 315-04-132









Change of business structure, ownership, or officers.









(1) Every change of business structure of a person to whom a license has been issued must be reported to the lottery prior to the change. A change of business structure shall mean the change from one form of business organization to another, such as from sole proprietorship to partnership or corporation.
(2) Every substantial change of ownership of a person to whom a license has been issued must be reported to the lottery prior to the change. A substantial change of ownership shall mean the transfer of ten percent or more equity, or the addition or deletion of an owner of ten percent or more of the person.
(3) Every change of officers of a person to whom a license has been issued must be reported to the lottery not later than ten days following the effective day of the change.
(4) If the substantial change of ownership involves the addition or deletion of one or more owners or officers, the lottery retailer shall submit a license application reflecting the change(s) and any other documentation the director may require.
(5) If the substantial change of ownership involves the addition of one or more owners or officers who does not have on file with the lottery current "personal history information" and "criminal history information" forms, the director may require each such owner or officer to submit the required forms.
[Statutory Authority: RCW 67.70.040 (1), (3) and 67.70.040. WSR 07-11-154, § 315-04-132, filed 5/22/07, effective 6/22/07. Statutory Authority: RCW 67.70.040. WSR 90-11-040, § 315-04-132, filed 5/10/90, effective 6/10/90; WSR 87-01-058 (Order 97), § 315-04-132, filed 12/16/86; WSR 86-01-060 (Order 83), § 315-04-132, filed 12/16/85; WSR 85-09-004 (Order 72), § 315-04-132, filed 4/5/85; WSR 84-12-057 (Order 58), § 315-04-132, filed 6/4/84.]