S.C. Code Regs. § § 61-15.A.6.604

Current through Register Vol. 48, 12, December 27, 2024

Section 61-15.A.6.604 - Non-Transferability of Certificate of Need

1. A Certificate of Need is nontransferable. A Certificate of Need or rights there under may not be sold, assigned, leased, transferred, mortgaged, pledged, or hypothecated, and any actual transfer or attempt to make a transfer of this sort will result in the immediate voidance of the Certificate of Need. Any of the aforementioned transactions involving an entity directly or indirectly holding a Certificate of Need before fulfillment of the Certificate of Need will result in the transfer and the subsequent voidance of the Certificate of Need.

2. The sale or transfer of the controlling interest or majority ownership in a corporation, partnership, or other entity holding, either directly or indirectly, a Certificate of Need, will result in the transfer and voidance of a Certificate of Need.

3. Fulfillment of the Certificate of Need occurs upon the submission of an adequate final completion report pursuant to Section 607.3.

S.C. Code Regs. § 61-15.A.6.604

Amended by State Register Volume 36, Issue No. 5, eff May 25, 2012; State Register Volume 48, Issue No. 04, eff. 4/26/2024.