Change of ownership

When a pharmacy changes ownership, the original permit becomes void and must be surrendered to the board, and a new permit secured by the new owner or owners. This is required even in case there is no change in the name of the pharmacy or in the registered pharmacist in charge of the pharmacy. The board shall be promptly notified of any change in ownership of a pharmacy. In the case of a corporation holding a pharmacy permit, the board shall be immediately notified at any time when a majority of the stock is not owned by registered pharmacists in good standing, actively and regularly employed in and responsible for the management, supervision, and operation of the pharmacy. In the case of a partnership holding a pharmacy permit, the board shall be notified as to the addition or removal of one or more partners in the partnership.