Qualifications for a dispensary license

(a) Each application for a dispensary license shall include both an individual applicant and an applying entity. (b) The application shall be submitted to the department and shall include supporting documentation to establish the following: (1) That the individual applicant: (A) Has been a legal resident of the State for not less than five years preceding the date of application; (B) Is not less than twenty-one years of age; and (C) Has had no felony convictions; (2) That the applying entity: (A) Has been organized under the laws of the State; (B) Has a Hawaii tax identification number; (C) Has a department of commerce and consumer affairs business registration division number and suffix; (D) Has a federal employer identification number; (E) Is not less than fifty-one per cent held by Hawaii legal residents or entities wholly controlled by Hawaii legal residents who have been Hawaii legal residents for not less than five years immediately preceding the date the application was submitted; (F) Has financial resources under its control of not less than $1,000,000 for each license applied for, plus not less than $100,000 for each retail dispensing location allowed under the license applied for, in the form of bank statements or escrow accounts, and that the financial resources have been under the control of the applying entity for not less than ninety days immediately preceding the date the application was submitted; and (G) Is composed of principals or members, each of whom has no felony convictions. (c) A dispensary license shall not be sold or otherwise transferred from one person to another person.