1. A. Upon transfer of a business from one owner to another, the registrant may dispose of the controlled substances in his possession as follows:

   1. (1) On the date of transfer of controlled substances, a complete inventory of all controlled substances being transferred shall be taken in accordance with 16.19.20.20 NMAC, and Title 21, Section 1304.11 of the federal DEA regulations (or successor regulation). This inventory of the registrant-transferee and a copy of the inventory shall be included in the records of each person. It shall not be necessary to file a copy of the inventory with DEA or the board of pharmacy unless requested by either agency. Transfer of schedule I or II substances require the use of DEA Form 222, and transfer of Schedule III – V substances require the use of invoice.
   2. (2) All records required to be kept by the registrant-transferor with reference to the controlled substances being transferred, shall be transferred to the registrant-transferee. Responsibility for the accuracy of records prior to the date of transfer remains with the transferor, but responsibility for custody and maintenance shall be upon the transferee.
   3. (3) All schedule I or II substances must be transferred pursuant to order forms as required by the federal regulations. A copy of the inventory will constitute a record of receipt for the purchaser.
2. B. Upon discontinuance of business, if there are controlled substances which are not transferred to another registrant, these substances shall be handled as unwanted controlled substances under 16.19.20.38 NMAC.

[16.19.20.40 NMAC - Rp 16.19.20.40 NMAC, 6/26/2018; A, 12/17/2019]