Final answer:
The Private Security Board may impose disciplinary actions, which could include fines, suspension, or revocation of a license if a license holder fails to notify the board of a qualified manager's termination within the prescribed 14-day period.
Step-by-step explanation:
The Private Security Board (PSB) typically has regulations in place that require license holders to notify them within a specific period, usually 14 days, when there is a change in critical personnel, such as the termination of a qualified manager. Failure to comply with this requirement can lead to various disciplinary actions by the PSB against the license holder or the security business they manage. This could include fines, the suspension of the business's license, or even revocation of the license, depending on the specific rules and regulations of the PSB that govern that jurisdiction.
License holders need to understand the importance of compliance and maintaining open communication with the Private Security Board to prevent such punitive measures.