Rule 1301:18-3-15 | Discontinuing Business.
(A) In the event a licensee permanently ceases all business operations, the licensee shall provide written notice to the division of cannabis control at least ninety calendar days prior to the effective date of the closure.
(B) A licensee that intends to permanently cease all business operations under paragraph (A) of this rule shall submit a written closure plan to the division at least sixty calendar days prior to the effective date of the closure, and include, at a minimum, the following:
(1) The sale of cannabis inventory at market rate;
(2) The destruction of cannabis on hand at the facility on the effective date of the closure;
(3) The sale or removal of equipment and products ancillary to the business;
(4) The retention of all records required to be maintained in accordance with the applicable records retention schedules;
(5) The steps that will be taken to maintain compliance with these rules, and any other conditions required by the division until the approved closure date; and
(6) The closure and intended use of the premises at which the licensee was located.
(C) Within thirty calendar days of receipt of a licensee's closure plan, the division will review the plan and may:
(1) Approve the plan;
(2) Deny the plan; or
(3) Advise the licensee in writing that additional information is needed for review.
(D) Upon discontinuing business, the division shall not renew the certificate of operation.
(1) The licensee shall:
(a) Permanently cease all operations;
(b) Not engage in any activities authorized under this chapter; and
(c) Destroy the certificate of operation and all affiliated employee badges.
(E) If the closure is the result of an eviction notice, the licensed entity shall immediately notify the division of the eviction notice and the effective date of the notice.
This notice shall be provided prior to the licensed entity taking any steps to wind down and discontinue business operations.
Last updated December 20, 2024 at 7:42 AM