Utah Code § 32B-11-609: Notifying department of change in ownership.

The commission may suspend, revoke, or deem forfeited a local industry representative license if a local industry representative licensee does not notify the department, within 60 days after the day on which the change occurs, of a change in:

(1) ownership of the business;

(2) for a corporate owner, the:

(a) corporate officers or directors; or

(b) shareholders holding at least 20% of the total issued and outstanding stock of the corporation; or

(3) for a limited liability company:

(a) managers; or

(b) members owning at least 20% of the limited liability company.