N.Y. Comp. Codes R. & Regs. tit. 10 § 790.14

Current through Register Vol. 46, No. 50, December 11, 2024

Section 790.14 - Transfers of stock

An individual who proposes to become a principal stockholder in a business corporation shall file, in addition to meeting the other applicable requirements of this Part, information, documents and data as follows:

(a) a copy of the document giving approval for the incorporation of the hospice business;

(b) an affidavit from each applicant setting forth:

(1) that the applicant is to be the sole beneficial owner of the voting shares of the corporation of which the applicant is to be the holder of record; and

(2) the number of voting shares of the corporation of which the applicant is to be the holder of record;

(c) an affidavit from the transferor of the stock setting forth the transferor's name and address and stating:

(1) the number of voting shares of the corporation which the transferor proposes to transfer to the applicant; and

(2) the purchase price of the shares to be transferred to the applicant;

(d) the financial resources available for the acquisition of the stock to be transferred, or the basis on which such transfer is to be financed;

(e) if such transfer of stock is to be by gift, a statement of the relationship between the donor and the donee; and

(f) such additional pertinent information or documents necessary for the Public Health Council's consideration, as required.

N.Y. Comp. Codes R. & Regs. Tit. 10 § 790.14