1. (a) Any agreement to transfer the control of an educator preparation program (EPP) is considered a change of ownership. The control of an EPP is considered to have changed:

   1. (1) in the case of ownership by an individual, when more than 50% of the EPP has been sold or transferred;
   2. (2) in the case of ownership by a partnership or a corporation, when more than 50% of the owning partnership or corporation has been sold or transferred; or
   3. (3) in the case of ownership by a board of directors, officers, shareholders, or similar governing body, when more than 50% of the ownership has changed.
2. (b) In order to continue providing educator preparation, the new owners of the EPP shall notify TEA staff of the ownership change in writing within 10 days of the change in ownership.

Source Note:The provisions of this §228.17 adopted to be effective December 27, 2016, 41 TexReg 10280.