TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1290 RULES FOR ADMINISTRATION OF THE COMPASSIONATE USE OF MEDICAL CANNABIS PILOT PROGRAM
SECTION 1290.30 DISPENSING ORGANIZATION PRINCIPAL OFFICERS
Section 1290.30 Dispensing Organization Principal Officers
a) In addition to the individuals identified in the dispensing organization's by-laws as principal officers, the following individuals are considered principal officers:
1) If a corporation, the officers of the corporation;
2) If a partnership, the partners;
3) If a limited liability company, the members and managers of the limited liability company;
4) If an association or cooperative, the members of the association or cooperative;
5) If a joint venture, the individuals who signed the joint venture agreement; and
6) If a business organization other than the types listed in subsections (a)(1) through (5), the members of the business organization.
b) A dispensing organization may not be established as a trust. A trust may not have an ownership interest in a registered dispensing organization.
c) If a dispensing organization parent company, holding company or any other entity exerts management or control over the dispensing organization, that entity is a dispensing organization principal officer, including the officers, board members and the individuals with an ownership interest in it that have more than a one percent ownership interest in the dispensing organization.
(Source: Amended at 43 Ill. Reg. 6593, effective May 20, 2019)