New Mexico Administrative Code
Title 16 - OCCUPATIONAL AND PROFESSIONAL LICENSING
Chapter 19 - PHARMACISTS
Part 14 - DEVICES; MEDICAL GAS REPACKAGERS AND SELLERS
Section 16.19.14.18 - TRANSFER OF OWNERSHIP
Current through Register Vol. 35, No. 18, September 24, 2024
A transfer of ownership occurs upon.
A. The sale of the facility 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.
E. A new license application will be required to be filed in each of 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 every other year unless renewed.
