Bureau of Cannabis Control Emergency Regulations CODE OF REGULATIONS TITLE 16 DIVISION
§ 5003. Designation of Owner
(a) All applicants for a commercial cannabis license shall have at a minimum one individual who
meets the definition of “owner” under Business and Professions Code section 26001(al) and who
will submit the information required of owners under section 5002.
(b) “Owner” means any of the following:
(1) A person with an aggregate ownership interest of 20 percent or more in the person applying
for a license or a licensee, unless the interest is solely a security, lien, or encumbrance.
(2) The chief executive officer of a nonprofit or other entity.
(3) A member of the board of directors of a nonprofit.
(4) The trustee(s) and all persons who have control of the trust and/or the commercial cannabis
business that is held in trust.
(5) An individual who will be participating in the direction, control, or management of the
person applying for a license. Such an individual includes any of the following:
(A) A general partner of a commercial cannabis business that is organized as a partnership.
(B) A non-member manager or managing member of a commercial cannabis business that is
organized as a limited liability company.
(C) An officer or director of a commercial cannabis business that is organized as a corporation.
(D) Any individual who assumes responsibility for the license.
(c) When an entity has an aggregate ownership interest of 20 percent or more in the commercial
cannabis business, then the chief executive officer and/or members of the board of directors of
the entity shall be considered owners.
Authority: Section 26013, Business and Professions Code. Reference: Sections 26001, 26012
and 26013, Business and Professions Code