Mont. Admin. R. 24.174.1208 - CHANGE IN OWNERSHIP
(1) When a
facility licensed under this subchapter changes ownership, the original license
becomes void and must be surrendered to the board, and a new license obtained
by the new owner. The owner shall submit a new license application at least 30
days prior to the change in ownership.
(2) A change in ownership for the purposes of
this rule shall be deemed to occur when more than 50 percent of the equitable
ownership of a business is transferred in a single transaction or in a related
series of transactions to one or more persons or any other legal
entity.
(3) The board must be
notified in writing when five to 50 percent of the equitable ownership of a
business is transferred in a single transaction or in a related series of
transactions to one or more persons or any other legal entity.
Notes
AUTH: 37-7-201, 37-7-610, MCA; IMP: 37-7-604, 37-7-605, 37-7-610, MCA
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