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Washington Administrative Code (Last Updated: November 23, 2016) |
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Title 314. Liquor and Cannabis Board |
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Chapter 314-55. Marijuana licenses, application process, requirements, and reporting. |
Section 314-55-035. What persons or entities have to qualify for a marijuana license?
Latest version.
- A marijuana license must be issued in the name(s) of the true party(ies) of interest.(1) True parties of interest - For purposes of this title, "true party of interest" means:(2) For purposes of this section, "true party of interest" does not mean:(a) A person or entity receiving reasonable payment for rent on a fixed basis under a bona fide lease or rental obligation, unless the lessor or property manager exercises control over or participates in the management of the business.(b) A person who receives a bonus as an employee, if: The employee is on a fixed wage or salary and the bonus is not more than twenty-five percent of the employee's prebonus annual compensation; or the bonus is based on a written incentive/bonus program that is not out of the ordinary for the services rendered.(c) A person or entity contracting with the applicant(s) to sell the property, unless the contract holder exercises control over or participates in the management of the licensed business.(3) Financiers - The WSLCB will conduct a financial investigation as well as a criminal background of financiers.(4) Persons who exercise control of business - The WSLCB will conduct an investigation of any person or entity who exercises any control over the applicant's business operations. This may include both a financial investigation and/or a criminal history background.(5) After licensure, a true party of interest, including financiers, must continue to disclose the source of funds for all moneys invested in the licensed business. The WSLCB must approve these funds prior to investing them into the business.