Notice of discontinuance, sale, or transfer of business; content;
liability
Sec. 55. Whenever any person licensed to do business under this
chapter discontinues, sells, or transfers the business, the licensee
shall immediately notify the department in writing of the
discontinuance, sale, or transfer. The notice shall give the date of
discontinuance, sale, or transfer and in the event of the sale or
transfer of the business, the name and address of the purchaser or
transferee. The licensee shall be liable for all taxes, interest, and
penalties that accrue or may be owing and any criminal liability for
misuse of the license that occurs prior to issuance of the notice.
As added by P.L.277-1993(ss), SEC.44.
Last modified: May 28, 2006