327 IAC 19-8-6 Transferability

Sec. 6. (a) When ownership of a CFO is transferred, the parties completing the transaction shall request transfer of the approval from the department. This request must include a written agreement that is submitted to the commissioner within ninety (90) days of the transfer and must contain the following: (1) A specific date for transfer of approval responsibilities. (2) Identification of responsibility for any violations existing at the time of the transfer. (b) Failure to comply with subsection (a) shall result in the following: (1) Revocation of the existing CFO approval and possible penalties for operating without a valid approval. (2) The necessity of the new owner/operator to submit an application for a new approval under 327 IAC 19-7-1.