Ala. Admin. Code r. 395-X-4-.08

Current through Register Vol. 43, No. 1, October 31, 2024

Section 395-X-4-.08 - [Effective 12/15/2024] Change of Ownership

1. A funeral establishment must immediately report to the Board:

a. Any transfer of a 10% or greater ownership interest;

b. Any series of transfers within a one-year period that accrue a 10% or greater ownership interest; or

c. Any transfer that results in an individual or entity controlling or losing control of a 50% or greater total ownership interest.

2. All changes of ownership are to be reported on a form prescribed by the Board.

3. An establishment that fails to submit a change of ownership form to the Board within 15 calendar days of any of the preceding shall incur a $250 late fee may be subject to disciplinary action.

Ala. Admin. Code r. 395-X-4-.08

Adopted by Alabama Administrative Monthly Volume XLIII, Issue No. 01, October 31, 2024, eff. 12/15/2024.

Author: Charles M. Perine

Statutory Authority:Code of Ala. 1975, 34-13-26, 34-13-111