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 thirty percent 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 16.19.6 NMAC 7 the above circumstances. As stated in the Pharmacy Act, Subsection I of Section 61-11-14 NMSA 1978, licenses are not transferable, and shall expire on December 31 of each year unless renewed.