Licensing and Regulatory Affairs
The MMFLA states that each license is exclusive to the licensee. If a licensee would like to transfer, sale, or purchase a license they will need to apply for and receive approval of the Board prior to completion of transaction. The act stipulates that this applies to the transfer or sale of more than 1% of the license. The attempted sale or transfer of 1% or more of the license without board approval is grounds for suspension or revocation of the license.