California Code of Regulations
Title 17 - Public Health
Division 3 - Air Resources
Chapter 1 - Air Resources Board
Subchapter 10 - Climate Change
Article 4 - Regulations to Achieve Greenhouse Gas Emission Reductions
Subarticle 7 - Low Carbon Fuel Standard
Section 95483.3 - Change of Ownership or Operational Control

(a) CARB Notifications. Within 30 days of the change of ownership or operational control, the previous owner or operator of the regulated entity or facility and the new owner or operator of the entity or facility must provide the following information to CARB:

(b) Reporting Responsibilities. The owner or operator of record at the time of a reporting or verification deadline specified in this subarticle has the responsibility for complying with the requirements of this subarticle, including submitting quarterly and annual reports, certifying that the reports are accurate and complete, obtaining verification services, and completing verification.

(c) New Owner Responsible for Net Deficits. The new owner, when filing the annual report, is responsible for demonstrating compliance pursuant to section 95485.

(d) Bankruptcy. Deficits constitute regulatory obligations under California law.

(e) Fate of Credits After an Entity Dissolves. The Executive Officer will place into the Buffer Account any net credits in the account of a party that dissolves or otherwise ceases to exist without notifying the Executive Officer pursuant to paragraph (3) of subdivision (a) of this section.

(f) Fate of Deficits After an Entity Dissolves. Prior to dissolution, a fuel reporting entity is responsible for retiring credits equal to any net deficits in its LRT-CBTS account and fulfill account closure requirements as set forth in section 95483.2(b)(7).