(1) A licensee shall:
(a) Provide the director with written notice of a proposed
change of control within fifteen days after learning of the
proposed change of control and at least thirty days prior to the
proposed change of control;
(b) Request approval of the change of control by submitting
the information required in rule by the director; and
(c) Submit, with the notice, a nonrefundable fee as
prescribed in rule by the director.
(2) After review of a request for approval under subsection
(1) of this section, the director may require the licensee to
provide additional information concerning the licensee's proposed
persons in control. The additional information must be limited
to the same types required of the licensee, or persons in control
of the licensee, as part of its original license application.
(3) The director shall approve a request for change of
control under subsection (1) of this section if, after
investigation, the director determines that the person, or group
of persons, requesting approval meets the criteria for licensing
set forth in RCW 19.230.070 and 19.230.100 and that the public
interest will not be jeopardized by the change of control.
(4) Subsection (1) of this section does not apply to a
public offering of securities.
(5) Before filing a request for approval to acquire control
of a licensee, or person in control of a licensee, a person may
request in writing a determination from the director as to
whether the person would be considered a person in control of a
licensee upon consummation of a proposed transaction. If the
director determines that the person would not be a person in
control of a licensee, the director shall respond in writing to
that effect and the proposed person and transaction is not
subject to the requirements of subsections (1) through (3) of
this section.
(6) The director may exempt by rule any person from the
requirements of subsection (1)(a) of this section, if it is in
the public interest to do so.
[2003 c 287 § 18.]