Upon discontinuation of a licensee's business, what steps must they take?

The action that must be taken upon discontinuation of a licensee's business is to return the license and notify the Department immediately. This procedure is essential because it legally informs the regulatory body that the business operations have ceased, allowing them to update their records accordingly. Returning the license is a formal step that signifies the end of the licensee's authority to conduct business under that license.

The requirement to notify the Department serves multiple purposes, such as compliance with regulations, safeguarding public interest, and ensuring that consumer protections remain intact. This protocol helps prevent any potential misuse of the license after the business has stopped operating. Notifying the Department immediately is also crucial in preventing fees or penalties associated with a discontinued or non-active status. Keeping a copy of the license may be a good practice but does not fulfill the necessary requirements that returning the license does.

Thus, the combined steps of returning the license and notifying the Department comprehensively address the regulatory obligations of the licensee when discontinuing business operations.