Mich. Admin. Code R. 432.1503

Current through Vol. 24-22, December 15, 2024
Section R. 432.1503 - Transfer application fees

Rule 503.

(1) Unless otherwise provided by the board, a person desiring to acquire an interest subject to this part shall submit an application fee in the amount required for the applicable class of license in accordance with the act and part 3 of these rules.
(2) An application fee shall be utilized to conduct the background investigation of the person desiring to acquire an interest subject to this part. An additional investigation fee may be assessed to the extent that the cost of the background investigation relating to the person desiring to acquire an interest subject to this part exceeds the investigation fee submitted under subrule (1) of this rule. The executive director shall advise the applicant, in writing, that an additional investigation fee is required. The letter shall direct the person to remit an amount that the executive director has determined is necessary to complete the investigation. Once a person desiring to acquire an interest under this part is directed to submit an investigation fee in excess of the amount set forth in subrule (1) of this rule, then the investigative team conducting the investigation of the person shall not finalize the report on the person's suitability for obtaining an ownership interest, nor submit the report to the board for consideration, until the additional investigation fee is paid by the person.
(3) If an assessed investigation fee is more than the final cost of the investigation, then the board shall refund the excess investigation fee to the person desiring to acquire the interest covered by this part.

Mich. Admin. Code R. 432.1503

1998-2000 AACS