Ala. Admin. Code r. 538-X-3-.09
Particularly with respect to offerings potentially involving multiple available licenses, but otherwise at the discretion of the Commission based on a timeline to be set forth in the Offering Announcement or included on the Application Form, no Application by any Applicant may be deemed "submitted" pursuant to § 20-2A-56(d), Code of Ala. 1975, (as amended), until the Commission decides to accept and approve or reject proposed corrections and extraordinary-time proposed corrections with respect to all other deficient applications, regardless of whether the applicant's own application was deemed deficient and required proposed corrections. In such instances, the date applications are deemed "submitted" shall also be the date the Commission decides whether to accept and approve an Amended Application under extenuating circumstances or proposed corrections filed in respect to a Notice of Deficiency or an Extraordinary Circumstances Application. With respect to the initial offering period, the Commission shall, by vote, deem all properly filed and, as necessary, corrected applications "submitted" at or before its meeting on April 13, 2023, or 60 days from the date Notices of Deficiency were issued based on deficient applications, whichever is later. The time for the Commission to determine whether a license should issue to an Applicant does not begin until all applications are deemed "submitted" as set forth in this rule, and the 60 days to grant or deny a license does not begin to run until that date. Notice of the Commission's decision shall issue to the Applicant no later than 4:00 p.m. Central Time the following business day.
Ala. Admin. Code r. 538-X-3-.09
Author: William H. Webster
Statutory Authority:Code of Ala. 1975, §§ 20-2A-22, as amended.