"Transfer" shall mean any sale, conveyance, or assignment of the rights held by the applicant in any permit issued pursuant to these Regulations. Any change of more than 50 percent of the equity ownership of the permit holder over a sustained period which results in a new majority owner shall constitute a transfer. A new majority owner for purposes of this provision shall be an individual, partnership, company, or group of affiliated companies.
11 Miss. Code. R. 3-1.20