HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 24.174.804 Prev     Up     Next    
Rule Title: CHANGE IN OWNERSHIP
Add to My Favorites
Add to Favorites
Department: LABOR AND INDUSTRY
Chapter: BOARD OF PHARMACY
Subchapter: Pharmacies
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

Printer Friendly Version

24.174.804    CHANGE IN OWNERSHIP

(1) When a pharmacy changes ownership, the original license becomes void and must be surrendered to the board, and a new license obtained by the new owner or owners. The owner shall submit a new license application at least 30 days prior to the change in ownership. The application must be reviewed by the board or its designee before the license may be issued.

(2) A change in ownership for the purposes of this rule shall be deemed to occur when more than 50 percent of the equitable ownership of a business is transferred in a single transaction or in a related series of transactions to one or more persons or any other legal entity.

(3) The board must be notified in writing when five to 50 percent of the equitable ownership of a business is transferred in a single transaction or in a related series of transactions to one or more persons or any other legal entity.

History: 37-7-201, MCA; IMP, 37-7-201, 37-7-321, MCA; NEW, Eff. 3/21/55; AMD, 1980 MAR p. 126, Eff. 1/18/80; AMD, 1980 MAR p. 970, Eff. 3/14/80; TRANS, from Dept. of Prof. & Occup. Lic., Ch. 274, L. 1981, Eff. 7/1/81; AMD, 1983 MAR p. 344, Eff. 4/29/83; AMD, 2002 MAR p. 178, Eff. 2/1/02; TRANS, from Commerce, 2002 MAR p. 904; AMD, 2007 MAR p. 1936, Eff. 11/22/07.


 

 
MAR Notices Effective From Effective To History Notes
24-174-56 11/22/2007 Current History: 37-7-201, MCA; IMP, 37-7-201, 37-7-321, MCA; NEW, Eff. 3/21/55; AMD, 1980 MAR p. 126, Eff. 1/18/80; AMD, 1980 MAR p. 970, Eff. 3/14/80; TRANS, from Dept. of Prof. & Occup. Lic., Ch. 274, L. 1981, Eff. 7/1/81; AMD, 1983 MAR p. 344, Eff. 4/29/83; AMD, 2002 MAR p. 178, Eff. 2/1/02; TRANS, from Commerce, 2002 MAR p. 904; AMD, 2007 MAR p. 1936, Eff. 11/22/07.
2/1/2002 11/22/2007 History: 37-7-201, MCA; IMP, 37-7-321, MCA; NEW, Eff. 3/21/55; AMD, 1980 MAR p. 126, Eff. 1/18/80; AMD, 1980 MAR p. 970, Eff. 3/14/80; TRANS, from Dept. of Prof. & Occup. Lic. , Ch. 274, L. 1981, Eff. 7/1/81; AMD, 1983 MAR p. 344, Eff. 4/29/83; AMD, 2002 MAR p. 178, Eff. 2/1/02; TRANS, from Commerce, 2002 MAR p. 904.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security