Rule 570-38-2-.10 - Transferability of Certificates(1) Interim Certificates issued pursuant to this Subchapter are nontransferable.(2) Permanent Certificates issued pursuant to this Subchapter are transferable at the Department's discretion upon written request of the person or entity requesting receipt of the license. Unless otherwise authorized by the Department, no such request will be granted unless accompanied by the written consent of the existing license holder at the time of the request or an authorized representative thereof (as determined by the Department).(3) In the event of a change of name or ownership by the holder of a Permanent Certificate (including acquisition of a controlling interest in a corporate entity), the certificate holder shall be required to apply to transfer the Permanent Certificate to reflect the change in name or ownership. Unless otherwise authorized by the Department, no such request shall be granted unless accompanied by the written consent of the parties affected by the change in name or ownership or their authorized representatives (as determined by the Department).(4) A person or entity requesting a transfer shall submit an application in the same manner and subject to the same regulations as an applicant for an Interim Certificate under Rule 570-38-2-.04, except that: (a) The applicant shall indicate on their application that they are seeking a transfer of an existing certificate;(b) In the event of a change of name or ownership as described in paragraph (3) of this Rule, the applicant:1. May, at the Department's discretion, be authorized to apply for a transfer of their existing certificate using an alternate or abbreviated process rather than that required by Rule 570-38-2-.04; and2. Shall, except to the extent otherwise authorized by the Department, be required to submit: (i) In the case of the sale of an entity, a sale document detailing the sale;(ii) A statement of assets of the proposed new certificate holder; and(iii) If applicable, an acknowledgement of indebtedness of the prior entity with provisions made for ongoing expenses and names and addresses of creditors; and(c) Any other materials authorized by law for the Department to request which it deems necessary to its consideration of the application.(5) No lease, loan, rental, or device or arrangement similar in operation or effect to a lease, loan, or rental of a certificate shall be allowed, and any such purported lease, loan, rental, device, or arrangement shall be void.Ga. Comp. R. & Regs. R. 570-38-2-.10
O.C.G.A. §§ 40-1-54; 40-1-101; 40-1-105.
Original Rule entitled "Transferability of Certificates" adopted. F. Apr. 21, 2020; eff. May 11, 2020.