18VAC50-22-220. Change of responsible management, designated employee, or qualified individual.
A. Any change in the principals of a corporation, a limited liability company, or an association must be reported to the board in writing within 120 days of the change.
B. Any change of designated employee must be reported on a form provided by the board within 120 days of the change. The new designated employee for a Class B licensee must meet the requirements of 18VAC50-22-50 B. The new designated employee for a Class A licensee must meet the requirements of 18VAC50-22-60 B. More than one individual associated with a single firm may complete the examination requirements necessary for eligibility as the designated employee.
C. Any change of qualified individual must be reported on a form provided by the board within 60 days of the change. The new qualified individual for a Class C licensee must meet the requirements of 18VAC50-22-40 B. The new qualified individual for a Class B licensee must meet the requirements of 18VAC50-22-50 C. The new qualified individual for a Class A licensee must meet the requirements of 18VAC50-22-60 C.
Statutory Authority
§ 54.1-201 of the Code of Virginia.
Historical Notes
Derived from VR220-01-2:1 § 5.3, eff. March 31, 1995; amended, Virginia Register Volume 17, Issue 21, eff. September 1, 2001; Volume 36, Issue 2, eff. November 1, 2019; Volume 41, Issue 25, eff. September 1, 2025.