1. A. An establishment or enterprise license is nontransferable.

2. B. A change of ownership or control is any action by which a person or corporation obtains authority to control the actions of an enterprise or establishment. These actions may include, but are not limited to:

   1. (1) the transfer of the controlling interest of stock of an enterprise or establishment to its parent corporation;
   2. (2) the merger of two or more enterprises or establishments;
   3. (3) the division of enterprise or establishment into two or more enterprises or establishments;
   4. (4) the transfer of the assets or liabilities of an enterprise or establishment to its parent corporation;
   5. (5) the acquisition by an individual of the controlling interest of an enterprise or establishment, whether a proprietorship, partnership or corporation;
   6. (6) the sale of an enterprise or establishment;
   7. (7) the lease of or right to do business as an enterprise or establishment.
3. C. If ownership or legal control of a licensed enterprise or establishment changes, the new owner, lessee or other legally responsible party must submit a new application as defined in Subsection A of 16.34.7.8 NMAC and secure a new license from the board.
4. D. If legal control of an enterprise or establishment does not change, but the organization of the ownership does change (e.g. a sole proprietor becomes the sole stock holder of a corporation which owns the enterprise or establishment), the board must receive notarized proof of such change within thirty days of such change.

[16.34.7.10 NMAC - Rp 16 NMAC 34.7.10, 6/16/2001; A, 12/17/2015]