Haw. Code R. § 11-850-15 - Minimum qualifications for applying entity
An
(1) Be organized under the laws of the
State;
(2) Have a Hawaii tax
identification number;
(3) Have a
department of commerce and consumer affairs business registration division
number and suffix;
(4) Have a
federal employer identification number;
(5) Not be less than fifty-one per cent held
by Hawaii legal residents or entities wholly controlled by Hawaii legal
residents who have been legal residents for not less than five years
immediately preceding the date the application was submitted;
(6) Have financial resources under its
control of not less than $1,000,000 for each license applied for, plus not less
than $100,000 for each retail dispensing location allowed under the license
applied for, in the form of bank statements or escrow accounts, and those
financial resources shall have been under the control of the applying entity
for not less than ninety days immediately preceding the date the application
was submitted; and
(7) Be composed
of owners, principals, or members, each of whom is not less than twenty-one
years of age and has no felony convictions or any other disqualifying
background history in accordance with section
11-850-17.
Notes
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An applying entity shall:
(1) Be organized under the laws of the State;
(2) Have a Hawaii tax identification number;
(3) Have a department of commerce and consumer affairs business registration division number and suffix;
(4) Have a federal employer identification number;
(5) Not be less than fifty-one per cent held by Hawaii legal residents or entities wholly controlled by Hawaii legal residents who have been legal residents for not less than five years immediately preceding the date the application was submitted;
(6) Have financial resources under its control of not less than $1,000,000 for each license applied for, plus not less than $100,000 for each retail dispensing location allowed under the license applied for, in the form of bank statements or escrow accounts, and those financial resources shall have been under the control of the applying entity for not less than ninety days immediately preceding the date the application was submitted; and
(7) Be composed of owners, principals, or members, each of whom is not less than twenty-one years of age and has no felony convictions or any other disqualifying background history in accordance with section 11-850-17.