(a) A change in ownership of an operation occurs when:
  (1) The owner stated on the license no longer owns the operation;
  (2) The governing body stated on the license no longer has the ultimate authority and responsibility for the operation;
  (3) There is a change in the legal organizational structure of the operation; or
  (4) A business entity that is a permit holder is sold or otherwise acquired by one or more persons or business entities, except as set forth in subsection (b) of this section.
(b) A change in ownership of an operation does not include the acquisition of the publicly traded stock of a business entity if the following conditions exist:
  (1) The business entity listed on the application and on the permit will continue to own and operate the operation following acquisition;
  (2) There will be no change in the operation's policy or procedure because of the transaction;
  (3) There will be no change in the staff who have contact with children in care because of the transaction; and
  (4) Any change in the day-to-day operations that might occur after the sale is in the ordinary course of business and not as a result of the stock transaction.

Source Note: The provisions of this §745.437 adopted to be effective January 1, 2007, 31 TexReg 9333; transferred effective July 15, 2019, as published in the June 14, 2019 issue of the Texas Register, 44 TexReg 2963; amended to be effective April 25, 2021, 46 TexReg 2437