Title 48, Chapter 9, Section 7
(a) When any distributor ceases his operations or has a change in
legal entity, the distributor shall notify the commissioner in
writing at least ten days prior to the discontinuance, sale, or
transfer of the operations. The notice shall give the date of
discontinuance, sale, or transfer and shall give the name of the
entity acquiring the operations. All taxes, penalties, and interest
due and payable under this article shall be paid concurrently with
the discontinuance, sale, or transfer of the operations.
(b) Failure to give the notice required by this Code section shall
make the purchaser or transferee liable to the state for all taxes,
penalties, and interest due, but only to the extent of the value of
the assets acquired from the distributor.