§ 1207

Laws, c. 73, § 7]. (a) A new license is required whenever there is any change in the ownership, type of organization, or control of the licensed security alarm business that results in the creation of a new legal entity. (b) In the event of any change in the ownership or type of organization or any change in the address of any office or location, the licensee shall notify the Director of such a change in writing within 14 days of the change. A licensee's failure to give such notification is sufficient cause for suspension or revocation of the security alarm business license. (c) Each license shall be issued to the person named on the application and shall be valid only for the person named on the license. No license shall be assigned or otherwise transferred to another person, with the exception of a sole proprietorship or partnership that incorporates, where the initial licensee remains as a principal in the newly-formed corporation. (d) Each new officer, management appointee, or compliance agent shall provide the Professional Licensing Section with the information

licensee remains as a principal in the newly-formed corporation. (d) Each new officer, management appointee, or compliance agent shall provide the Professional Licensing Section with the information required under § 1204(a) of this title. (e) The Professional Licensing Section shall review each new applicant under subsection (d) of this section as provided under § 1204 of this title. If the applicant fails to meet the standards the license shall be revoked.64 Del. Laws, c. 281, § 1; 70 Del. Laws, c. 186, § 1; 74 Del. Laws, c. 110, § 138;