Section 32.07. Change of owners or officers.

 

(1)   Change of owners.

(a) If an agency undergoes a change of owner, the former owner shall surrender the agency license to the department within 30 days after receiving written notice from the department of the issuance of a license to the new owner.

(b) The prospective new owner of a licensed agency shall apply for and receive an original agency license before engaging in business.

(2)  If there is a change in any of the officers of a corporation or members of a partnership or a limited liability company, the agency shall notify the department of the change before new officers or partners take office. Officers or members of an agency shall comply with s. SPS 31.02 (1) (b) . This subsection does not apply to a change of registered agent by a foreign corporation holding an agency license, but a copy of any statement required under s. 180.1508 , Stats., to be filed with the department of financial institutions shall be filed with the department within 30 days after a change of registered agent.

Cr. Register, October, 1988, No. 394 , eff. 11-1-88; am. (1) (b) and (2), Register, November, 1997, No. 503 , eff. 12-1-97; correction in (2) made under s. 13.92 (4) (b) 7. , Stats., Register November 2011 No. 671 .