When there is a change in ownership (> 50 percent equity), how far in advance must the new owner submit a license application?

When there is a change in ownership (> 50 percent equity), how far in advance must the new owner submit a license application?

• A. 10 days prior
• B. min 30 days prior to change
• C. 45 days prior
• D. 60 days prior

Answer: (B)

When ownership changes by more than half, the license must be reassessed and new ownership must be approved before the change takes effect. The board needs time to review qualifications, perform any required background checks, and align licensing with the new management, so the application should be submitted at least 30 days before the ownership change. Submitting earlier helps ensure a smooth transition and prevents any lapse in licensure. Options suggesting shorter lead times aren’t sufficient for the required review, while longer lead times are simply more than the minimum needed.

When ownership changes by more than half, the license must be reassessed and new ownership must be approved before the change takes effect. The board needs time to review qualifications, perform any required background checks, and align licensing with the new management, so the application should be submitted at least 30 days before the ownership change. Submitting earlier helps ensure a smooth transition and prevents any lapse in licensure. Options suggesting shorter lead times aren’t sufficient for the required review, while longer lead times are simply more than the minimum needed.