Michigan Laws 333.27406 – Transfer, sale, or purchase of license
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 333.27406
- Applicant: means a person who applies for a state operating license. See Michigan Laws 333.27102
- Board: means the marijuana regulatory agency. See Michigan Laws 333.27102
- license: means a license that is issued under this act that allows the licensee to operate as 1 of the following, specified in the license:
(i) A grower. See Michigan Laws 333.27102Licensee: means a person holding a state operating license. See Michigan Laws 333.27102 Person: means an individual, corporation, limited liability company, partnership, limited partnership, limited liability partnership, limited liability limited partnership, trust, or other legal entity. See Michigan Laws 333.27102
Each license is exclusive to the licensee, and a licensee or any other person must apply for and receive the board‘s approval before a license is transferred, sold, or purchased. The attempted transfer, sale, or other conveyance of an interest in a license without prior board approval is grounds for suspension or revocation of the license or for other sanction considered appropriate by the board, but only if the transfer, sale, or other conveyance would result in the transferee meeting the definition of applicant.