Section 120.250  Sale of Capital Stock

No sale, transfer or assignment of capital stock of a corporate licensee shall be made without first obtaining the consent and approval of the Secretary.  Any person contemplating the acquisition of these shares of stock shall first apply for consent and approval by filing with the Secretary an applicant's questionnaire, together with a personal sworn financial statement, credit report, investigation fee and any other information the Secretary may deem necessary, pursuant to Section 10 of the Act.

(Source:  Amended at 36 Ill. Reg. 13851, effective September 7, 2012)