(a) Transactions constituting a change in ownership include, but are not limited to, the following:

1. (1) A sole proprietor becomes a member of a partnership or corporation, succeeding him or her as the new director;
2. (2) A partnership dissolves;
3. (3) One (1) partnership is replaced by another through the removal, addition, or substitution of a partner;
4. (4) The corporate owner merges with, or is purchased by, another corporation or legal entity; or
5. (5) A not-for-profit corporation becomes a general corporation or a for-profit corporation becomes not-for-profit.

(b) Transactions that do not constitute a change of ownership include, but are not limited to, the following:

1. (1) Changes in the membership of a corporate board of directors or board of trustees; or
2. (2) Changes in the membership of a not-for-profit corporation.