[§454M-12]  Change in control of a licensee; fees.  (a)  A licensee shall submit to the commissioner an application requesting approval of a proposed change of control of the licensee, accompanied by a nonrefundable application fee of $500, payable to the division.

     (b)  The commissioner shall approve an application requesting approval of a proposed change of control under subsection (a) if, after investigation, the commissioner determines that:

     (1)  The person or group of persons who will obtain control will be in compliance with this chapter upon approval of the application;

     (2)  The person or group of persons who will obtain control has the competence, experience, character, and general fitness to control the licensee or person in control of the licensee in a lawful and proper manner; and

     (3)  The interests of the public will not be jeopardized by the change of control. [L 2017, c 46, pt of §1]