18 Va. Admin. Code § 48-50-170 - Change of business entity requires a new license
A. Licenses are issued to firms as defined in
this chapter and are not transferable. Whenever the legal business entity
holding the license is dissolved or altered to form a new business entity, the
license becomes void and shall be returned to the board within 30 days of the
change. Such changes include but are not limited to:
1. Cessation of the business or the voluntary
termination of a sole proprietorship or general partnership;
2. Death of a sole proprietor;
3. Formation, reformation, or dissolution of
a general partnership, limited partnership, corporation, limited liability
company, association, or any other business entity recognized under the laws of
the Commonwealth of Virginia; or
4.
The suspension or termination of the corporation's existence by the State
Corporation Commission.
B. When a new firm is formed, the new firm
shall apply for a new license on a form provided by the board before engaging
in any activity regulated by Chapter 23.3 (§
54.1-2345 et seq.) of Title 54.1
of the Code of Virginia or the regulations of the board.
Notes
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.