§ 143-143.11A. Notification of change of address, control of ownership, and bankruptcy. - North Carolina Statutes

§ 143‑143.11A. Notification of change of address, control of ownership, and bankruptcy.

(a)        Every applicant fora license shall inform the Board of the applicant's business address. Everylicensee shall give written notification to the Board of any change in thelicensee's business address, for whatever reason, within 10 business days afterthe licensee moves to a new address or a change in the address takes place. Aviolation of this subsection shall not constitute grounds for revocation,suspension, or non‑renewal of a license or for the imposition of anyother penalty by the Board.

(b)        Notwithstanding anyother provision of law, whenever the Board is authorized or required to givenotice to a licensee under this Part, the notice may be delivered personally tothe licensee or sent by first‑class mail to the licensee at the addressprovided to the Board under subsection (a) of this section. Notice shall bedeemed given four days after mailing, and any Department employee may certifythat notice has been given.

(c)        Every personlicensed under this Part, except for a person licensed as a manufactured homesalesperson, shall give written notification to the Board of any change inownership or control of the licensee's business within 30 business days afterthe change. A "change in ownership or control" means the sale orconveyance of the capital stock of the business or of an owner's interest inthe business, which operates to place a person or group of persons, notpreviously in control of the business, in effective control of the business. Aviolation of this subsection shall not constitute grounds for revocation,suspension, or nonrenewal of a license or for the imposition of any otherpenalty by the Board.

(d)        Upon the filing forprotection under the United States Bankruptcy Code by any licensee, or by anybusiness in which the licensee holds a position of employment, management orownership, the licensee shall notify the Board of the filing of protectionwithin three business days after the filing. Upon the appointment of a receiverby a court of this State for any licensee, or for any business in which thelicensee holds a position of employment, management, or ownership the licenseeshall notify the Board of the appointment within three business days after theappointment. (1999‑393,s. 1; 2000‑122, s. 9; 2005‑451, s. 1.)