Section 800.130  Change of Ownership or Management or Corporate Dissolution

a)         Each Transitional Housing license issued shall be valid only for the premises and persons named in the application.  Licensure is not transferable.  A license shall become null and void when:

1)         A change in ownership occurs involving more than 25% of the aggregate ownership interest within a one year period or a significant change in management occurs; or

2)         A change in 50% or more in the board of directors of a not-for-profit corporation occurs within a one year period.

b)         In order to obtain a new license reflective of the change in ownership, the licensee shall submit an application and fees to the Department in accordance with Sections 800.60 and 800.70.

c)         Failure to notify the Department within ten calendar days after the changes in ownership listed in subsection (a) will result in the imposition of a license fee of $350 for each affected license.

d)         A license shall become null, void, and of no further effect when there is any dissolution of a corporate licensee.  Written notification shall be given to the Department within ten calendar days after the dissolution.

e)         A license issued to a corporation that is subsequently dissolved shall not be reactivated upon reinstatement of the corporation and the license is also subject to sanctions as provided in this Part.   Such corporation shall reapply for licensure.

f)         In order to obtain a new license relative to reinstatement of a corporation, an application for initial licensure and the license application fee of $250 per license shall be submitted to the Department.  If the Department was not notified within ten calendar days after the dissolution of the corporation, the license fee will be $350 for each affected license.

(Source:  Expedited correction at 30 Ill. Reg. 8669, effective January 1, 2006)