§437-27  Change of status, notice.  If
the status of any licensee changes during the period for which the license is
issued in respect to:



(1)  Changes in officers, directors, or limited
partners of the licensee or termination of the employment of any licensed
salesperson;



(2)  The transfer of more than ten per cent of the
ownership of the licensee to one person;



(3)  The termination of a licensed premises by a
dealer or auction or the acquiring or termination of a franchise; or



(4)  The assignment of any part of the licensee's
assets for the benefit of creditors;



the licensee shall within fifteen days thereafter
file with the board notice of such change containing such information as may be
required by the board; provided that nothing contained in this section shall
limit the power of the board to suspend, revoke, or deny the renewal of such
license or impose any other penalty authorized by this chapter. [L 1939, c 258,
§8; RL 1945, §7372; am L 1951, c 90, pt of §1; RL 1955, §160-172; am L 1957, c
302, §1(19); am L 1961, c 59, §1(14); HRS §437-27; am L 1969, c 263, §1(15);
gen ch 1993; am L 1996, c 264, §9]