(a) In order to change ownership of a license, all of the following must be filed with the Commissioner on behalf of the new owner or owners:
(1) An application.
(2) A financial statement of the new owner or owners.
(3) Personal financial statements of all individuals, partners, or stockholders holding at least 10% of the corporate stock.
(4) A copy of the agreement of the terms of the sale or other exchange of financial interest, including stock distribution.
(5) Copy of all documents explaining interest and profit/loss distribution.
(6) Any application fee required by the Commissioner.
(7) Any other documents requested by the Commissioner.
(b) A change in ownership includes a change in the entire ownership, change in the partial ownership, or the sale or exchange of shares of stock by stockholders.