SECTION 420:10-1-11. Change of ownership  


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  •   Permits granted under the rules of this chapter and the act shall be personal to the holder thereof and shall not be assigned or transferable. In the event of a change of ownership the new operator shall currently hold a Class I permit or shall secure a Class I prior to change of ownership. Upon change of ownership where the new operator chooses to operate the business as a separate legal entity other than his existing Class I permit then he must meet the requirements of a new Class I permit, except the Class I testing. After change of ownership the new Class I permit holder shall secure minimum storage requirements within one year and meet requirements of 420:10-1-9(1).
[Source: Amended at 10 Ok Reg 4081, eff 7-26-93; Amended at 11 Ok Reg 3853, eff 7-11-94]