Md. Code Regs. 36.11.02.19

Current through Register Vol. 51, No. 26, December 27, 2024

Section 36.11.02.19 - Ownership Criteria

A. SWARC may not award a license to an applicant that has not demonstrated direct or indirect ownership of not less than 5 percent by individuals with personal net worth of less than $1,847,000 each.

B. Owners of the applicant intended to satisfy this ownership criteria shall provide to the applicant a signed, notarized certification stating that the individual's personal net worth is less than $1,847,000 and such certifications shall be submitted with the applicant's SWARC application.

Regulation .19 adopted effective 49:23 Md. R. 998, eff. 11/14/2022