75A - PH CANNABIS MUNI CODE AMEND

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subsection (c) any unapplied amount of such security deposit, upon depositor's presentation to the collector of a certificate of nonliability stating the nonliability of the depositor for payment of business license taxes as hereunder provided in section 21-141(f). (q) Deposit adjustment —effect In the case of a determination by the collector that the amount of a previously posted commercial cannabis business owner's/operator's security deposit exceeds the requirements of this section then the collector shall adjust the amount of the required security deposit. If the prior securitv deposit was posted on a cash basis then the collector shall refund the excess amount. If the Prior security deposit was posted on a non -cash basis then an adjusted cash basis security deposit or adjusted non -cash basis security deposit in a form acceptable to the collector may be posted in exchange for the release of the prior security deposit. Section 9. Section 21-141 of Article XIII of Chapter 21 of the Santa Ana Municipal Code is hereby added to read as follows: Sec. 21-141. Sale, assignment, transfer, or termination of business commercial cannabis business owner's/operator's duty to notify; remitting and reporting requirements; closeout audit; successor's duty to notify; successor's and transferor's joint and several liability; certificate of nonliability. (a) OwnerVverator's duty to notify. i. Termination of business. A commercial cannabis business owner/operator who is terminating their business shall notify the collector in writing of such termination at least ninety (90) days in advance of the date of termination of shall then immediately notify the collector of said decision and the date of termination of business. collector in writing of such sale, assignment, or transfer at least ninety (90) referred to as successor) unless the decision to sell assign, or otherwise then immediately notify the successor of the successor's responsibility for 19 75A-35