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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 Xlil 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) Owner/Operator's duty to notify. 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 business. If the decision to terminate business is made within less than a ninety (90) day period prior to the date of termination, the owner/operator shall then immediately notify the collector of said decision and the date of termination of business. Sale, assignment, or transfer of business. A commercial cannabis business owner/operator who is selling, assigning, or otherwise transferring their business (hereinafter collectively referred to as transferor) shall notify the collector in writing of such sale, assignment, or transfer at least ninety (90) days in advance of the date of the sale, assignment, or transfer and shall notify the collector in writing of the name and address of the purchaser, assignee, transferee, or other successor in interest (hereinafter collectively referred to as successor) unless the decision to sell, assign, or otherwise transfer their business was made within less than a ninety (90) day period prior to the sale, assignment, or transfer, in which case the transferor shall then immediately notify the successor of the successor's responsibility for unpaid business license taxes, including penalties, interest, charges, fees, or costs (hereinafter collectively referred to as business license tax liabilities) for the period prior to the sale, assignment, or transfer as set forth in subsections (d) and (e) below, and shall further certify in writing to the collector that the successor was notified of the requirements of this Article regarding their responsibility for unpaid business license tax liabilities. (b) Remitting and reporting requirements. Each commercial cannabis business owner/operator upon the sale, assignment, or other transfer, or termination of business for any reason shall, on or before the last day of the month following the sale, assignment, transfer, or termination of business, file a final return to the collector on City approved forms, of the total gross receipts received, adjustments to gross receipts, the amount of business license tax collected for the reporting period, remittances made, if any, and the balance of the business license tax due, if any, shall be remitted to the collector. Ordinance No. NS-2972 Page 18 of 25