32-7-111. Transferability. An escrow business license is not transferable or assignable. The provisions of this section apply to the change of ownership of a legal entity licensed as an escrow business under this part if the change of ownership involves a change of control in the entity. For purposes of this section, "change of control" means the transfer of 25% or more of the ownership interests in the entity.
History: En. Sec. 7, Ch. 651, L. 1989; amd. Sec. 6, Ch. 216, L. 2013.
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