Transfer of livestock market license permitted -- Conditions.
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(1) No livestock market license is transferable to another person without the prior approval of the commissioner.
(2) A change in the membership of a partnership or association, or the sale or transfer of a 25% or greater interest in the stock ownership of a corporate livestock market shall be considered a transfer of the livestock market license and is subject to the requirements of this section.
(3) Application to allow transfer of a livestock market license shall be made to the department on a form prescribed and furnished by the department.
(4) The commissioner may grant a transfer of the license:
(a) if the proposed transferee meets all the requirements specified for an original license in Section 4-30-105; and
(b) based on the criteria specified in Section 4-30-107.