N.M. Admin. Code § 16.19.6.20

Current through Register Vol. 35, No. 23, December 10, 2024

Section 16.19.6.20 - TRANSFER OF OWNERSHIP

A transfer of ownership occurs upon.

A. The sale of the pharmacy to another individual or individuals by the present owner.

B. The addition or deletion of one or more partners in a partnership.

C. The death of a singular or sole owner.

D. The change of ownership of 30% or more of the voting stock of a corporation since the issuance of

the license or last renewal application. A new license application will be required to be filed in each of the above circumstances. As stated in the Pharmacy Act Section 61-11-14(I), licenses are not transferable, and shall expire on December 31 of each year unless renewed.

N.M. Admin. Code § 16.19.6.20

16.19.6.20 NMAC - Rp, 16 NMAC 19.6.20, 03-30-02