1. A. OLR shall issue a license only to the adoption agency for which application is made and for the location shown on the application.
2. B. A license expires one year from the date of issuance.
3. C. A license shall not be transferred or assigned and shall expire upon a change in adoption agency ownership.

4. D. For the purpose of this Section, a change in ownership shall include the following events:

   1. 1. Sale or transfer of the adoption agency,
   2. 2. Bulk sale or transfer of the adoption agency’s assets or liabilities,
   3. 3. Placement of the adoption agency in the control of a court appointed receiver or trustee,
   4. 4. Bankruptcy of the adoption agency,
   5. 5. Change in the composition of the partners of an adoption agency organized as a partnership,
   6. 6. Sale or transfer of a controlling interest in the stock of a corporate adoption agency, or
   7. 7. Loss of an adoption agency’s nonprofit status.

Historical Note

New Section made by final exempt rulemaking at 21 A.A.R. 3524, effective January 24, 2016 (Supp. 15-4).