Wash. Admin. Code § 314-55-135 - Discontinue cannabis sales
(1)
Notification: A licensee must notify the WSLCB's enforcement and
education division in writing if the licensee plans to stop doing business for
more than 30 days, or if the licensee plans to permanently discontinue cannabis
sales.
(2)
Discontinued
business: Sale of cannabis inventory and stock after discontinuance of
business. Notwithstanding any other provision of Title 69 RCW or 314
WAC, a producer, processor or retail licensee who permanently discontinues
business for any reason shall dispose of the salable inventory and remaining
stock to a WSLCB approved licensed business at fair market value. Sales below
cost are prohibited. The WSLCB shall require tax expressed as a percent of the
total price of the gross sales as reported on the profit and loss statement in
the last published monthly report of the WSLCB. In the event of remaining
inventory after sale, the licensee shall notify the enforcement and education
division of the WSLCB. The enforcement division will establish conditions for
destruction or arrange for the removal of product.
(3)
Assumptions: Assumption of license
and purchases by licensee of certain cannabis inventory and stock. In
the case of a sale of business with a license, after obtaining the approval of
the WSLCB and under the supervision of a representative of the WSLCB, the
licensee may sell the entire inventory at a negotiated fair market price. Sales
below cost are prohibited.
(4)
Evictions. A licensee must notify the WSLCB's enforcement and
education division immediately in writing upon notice of eviction from a
licensed premises. Conditions to temporarily relocate and secure inventory will
be established by the WSLCB.
(5)
Abandoned cannabis inventory or product. In the event a licensee
abandons any cannabis on the premises, the property owner or their designated
representative should notify the enforcement and education division of the
WSLCB. The enforcement division will work with the property owner to arrange
for the removal and/or destruction of product. Any sales or distribution of
cannabis by an unlicensed person is subject to the criminal provisions of Title
69 RCW.
(6)
Maintaining a
licensed location. Cannabis licenses are associated with a physical
location. Persons operating without a WSLCB approved licensed location to
produce, process, or sell cannabis will be discontinued.
Notes
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