327 Ind. Admin. Code 20-4-6

Current through December 4, 2024

Section 327 IAC 20-4-6 - Transferability

Authority: IC 13-14-8-7; IC 13-15-2-1; IC 13-18-10.5

Affected: IC 13-11-2; IC 13-14; IC 13-15; IC 13-18; IC 13-30

Sec. 6.

(a) When ownership of a SMSS is transferred, the parties completing the transaction shall request transfer of the permit by submitting a written agreement, within ninety (90) days of closing, to the commissioner. The agreement must contain the following:

(1) An anticipated date for transfer of permit responsibilities.

(2) Identification of responsibility for any violations existing at the time of the transfer, if applicable.

(b) Failure to comply with subsection (a) shall result in the following:

(1) Revocation of the existing SMSS permit and possible penalties for operating without a valid permit.

(2) The new owner or operator shall submit an application for a new permit under this article.

(c) If the transfer is not complete within the time frame described in subsection (a), the new owner may operate under the previous owner's permit until:

(1) a transfer can be accomplished; or

(2) the owner is otherwise notified by the commissioner.

327 IAC 20-4-6

Filed 9/28/2015, 11:13 a.m.: 20151028-IR-327130245FRA