(1) An applicant applying to the department to transfer an all-beverages license under the provisions of 16-4-204, MCA, may negotiate a bona fide sale with the owner of a license, located in a quota area from which that license may be transferred, to purchase a license and, if no competitive bidding is required, shall submit;

(a) an application for transfer of ownership and location in compliance with ARM 42.12.209 and 42.12.210;

(b) documents required for the application pursuant to ARM 42.12.101 to be considered a complete application as defined in ARM 42.12.106;

(c) a request for termination of existing secured parties' interest, if applicable;

(d) other documents which may be needed or specified on the application form or during the license investigation process; and

(e) other documents deemed necessary by the department or hearing examiner to reach a final decision.

(2) A fully executed purchase agreement and a request for termination of secured parties' interests are not required upon initial filing of the application.