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TITLE 1 | ADMINISTRATION |
PART 4 | OFFICE OF THE SECRETARY OF STATE |
CHAPTER 102 | HEALTH SPAS |
SUBCHAPTER B | REGISTRATION PROCEDURES |
RULE §102.12 | Transferability of Certificate of Registration |
The certificate of registration is not transferable. If a health spa is purchased or otherwise transferred to a new owner, the new owner or transferee must submit a new application for registration within five business days of the purchase or transfer. In addition, the new owner or transferee must submit a new surety bond, post other security or a new application for exemption within five business days after the ownership has been transferred. Transfer includes a sale of substantially all of the assets, a sale of a majority of the ownership interests, or a merger or consolidation of the registrant into a surviving or resulting entity. Transfer does not include the conversion of a business entity of one type into a business entity of another type or the redomestication of an entity from one jurisdiction to another jurisdiction. |
Source Note: The provisions of this §102.12 adopted to be effective April 20, 2009, 34 TexReg 2375 |