If there is a failure to notify the Department of a change of ownership, what is the penalty?

The penalty for failing to notify the Department of a change of ownership is set at $500.00 for every fourteen days that the violation continues. This amount is established to encourage compliance and ensure that the Department has accurate and current information regarding ownership, which is crucial for regulatory oversight and enforcement of security standards.

The structure of this penalty serves as a deterrent against neglecting the duty to report changes that could impact licensing and operational integrity. Regular notifications help maintain transparency and accountability in private security operations. The specified interval of fourteen days between penalties emphasizes the importance of prompt communication with the Department regarding ownership changes.