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Licensee – Limiting the Number of Responsible Persons

posted on January 18, 2019

Q: We will be opening approximately 12 stores in the near future and we will have many investors looking to buy in. Most of these investors will have nothing to do with running the business, and many will not be personally known to us. Does every investor into an FFL business need to be a responsible party on the FFL? If we have an existing FFL and we have investors buy in, do they need to be added as responsible parties?

View the answer to this and thousands of other questions in our client-only Support Center.

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