OAR 333-333-4270: Closure of Licensed Entity

(1) License privileges cease upon death of a licensee unless the Authority issues an order as described in section (2) of this rule. (2) The Authority may issue an order providing for the manner and condition under which: (a) Psilocybin products left by a deceased, insolvent or bankrupt licensee, or subject to a security interest, may be transferred or destroyed pursuant to an order issued by the Authority. (b) The licensed entity of a deceased, insolvent or bankrupt licensee may be operated for a reasonable period, as specified in the order issued under this rule or OAR 333-333-4260, following the death, insolvency or bankruptcy. (3) If a license is revoked, the Authority may address in its order the manner and condition under which psilocybin products held by the licensee may be transferred or sold to other licensees or must be otherwise disposed. (4) If a license is surrendered or expires the Authority may address by order the manner and condition under which psilocybin products held by the licensee may be transferred or sold to other licensees or must be otherwise disposed of.