Or. Admin. Code § 845-025-1275

Current through Register Vol. 63, No. 10, October 1, 2024

Section 845-025-1275 - Closure of Business

(1) A license expires upon death of a licensee unless the Commission issues an order as described in subsection (2) of this rule.

(2) The Commission may issue an order providing for the manner and condition under which:

(a) Marijuana items left by a deceased, insolvent or bankrupt person or licensee, or subject to a security interest, may be foreclosed, sold under execution or otherwise disposed.

(b) The business of a deceased, insolvent or bankrupt licensee may be operated for a reasonable period following the death, insolvency or bankruptcy.

(3) A secured party, as defined in ORS 79.0102, may continue to operate a business for which a license has been issued under section ORS 475C.065, 475C.085, 475C.093 or 475C.097 for a reasonable period after default on the indebtedness by the debtor.

(4) If a license is revoked, the Commission may address in its order the manner and condition under which marijuana items held by the licensee may be transferred or sold to other licensees or must be otherwise disposed.

(5) If a license is surrendered or expires the Commission may address by order the manner and condition under which marijuana items held by the licensee may be transferred or sold to other licensees or must be otherwise disposed of.

Or. Admin. Code § 845-025-1275

OLCC 3-2015(Temp), f. 12-3-15, cert. ef. 1-1-16 thru 6-28-16; OLCC 6-2016, f. 6-28-16, cert. ef. 6/29/2016; OLCC 15-2017, amend filed 12/22/2017, effective 12/28/2017; OLCC 48-2022, minor correction filed 03/23/2022, effective 03/23/2022; OLCC 193-2022, minor correction filed 03/29/2022, effective 3/29/2022

Statutory/Other Authority: ORS 475C.017

Statutes/Other Implemented: ORS 475C.017