(a) Change of ownership. A vehicle lessor or vehicle lease facilitator that sells or assigns to another any interest in the licensed entity, whether a corporation or otherwise, provided the physical location of the licensed entity remains the same, shall notify the department in writing within 10 days by filing an application to amend the license in the electronic licensing system designated by the department. If the sale or assignment of any portion of the business results in a change of entity, then the purchasing or assignee entity must apply for and obtain a new license by submitting a new license application in the electronic licensing system designated by the department. A publicly held corporation licensed as a vehicle lessor or vehicle lease facilitator needs only inform the department of a change in ownership if one person or entity acquires 10% or greater interest in the licensed entity by submitting a license amendment application in the electronic licensing system designated by the department.
(b) Change of operating status of business location. A license holder shall obtain department approval prior to opening a satellite location or relocating an existing location, in accordance with §215.176 of this title (relating to More than One Business Location) by electronically submitting a new license application in the licensing system designated by the department and receiving electronic notice of approval prior to relocating or opening a satellite location. A license holder shall notify the department when closing an existing location or a satellite location by electronically submitting a license amendment to close the license or close the satellite location in the licensing system designated by the department.

Source Note: The provisions of this §215.179 adopted to be effective February 11, 2010, 35 TexReg 883; amended to be effective February 13, 2017, 42 TexReg 571; amended to be effective June 1, 2024, 49 TexReg 2704