§ 74C-23. Acquisition or change of ownership or control of licensed firm, association, or corporation.
§ 74C‑23. Acquisitionor change of ownership or control of licensed firm, association, orcorporation.
In the event a company, firm,or corporation licensed under this Chapter transfers ownership, control, or amajority of assets to another person, firm, association, or corporation, theperson, firm, association, or corporation acquiring control or ownership shallhave the following responsibilities:
(1) Notify the Directorof the acquisition or change of ownership or control by registered mail withinfive business days from the date of the transaction.
(2) Describe thetransaction that has occurred by providing the following information:
a. The name and addressof the registered agent of the party acquiring control or ownership orotherwise succeeding the licensee.
b. The name and addressof the acquiring party, including each individual owner of any interest in theparty or, if the party is a corporation, the name and address of each officerof the corporation and member of the board of directors.
c. Any change inlocation of any branch office.
d. Any change ininsurance or bonding limits.
(3) Return to theDirector all licenses held by the licensee within five business days from thedate of the transaction if the acquiring party does not continue to operate thebusiness under its previous name and license.
(4) Provide to theDirector within 60 calendar days from the date of the transaction thefollowing:
a. A list of allregistrants or licensees affected by the transaction.
b. Written confirmationof completion of any changes necessary for the acquiring party to comply withthe requirements of this Chapter or any applicable rules adopted by the Boardon a form approved by the Director. (2009‑328, s. 12.)