Cal. Code Regs. Tit. 16, § 1709 - Ownership, Management, and Control of Pharmacies and Other Regulated Business Entities
(a) Each license issued by the board to
operate a pharmacy shall reflect the name and address of the pharmacy, the form
of ownership, and the pharmacist-in-charge. Each pharmacy shall, in its initial
application and on the annual renewal form, report the name of the
pharmacist-in-charge, the names of all owners, and the names of the corporate
officers (if a corporation). Any changes in the pharmacist-in-charge, or the
owners, or corporate officers shall be reported to the board within 30 days of
the change.
(b)
(1) Any transfer, in a single transaction or
in a series of transactions, of 10 percent or more of the beneficial interest
in a business entity licensed by the board to a person or entity who did not
hold a beneficial interest at the time the original license was issued, shall
require written notification to the board within 30 days of the
transfer.
(2) Any transfer of the
management or control over a business entity licensed by the board to a person
or entity who did not have management or control over the license at the time
the original license was issued, shall require written notification to the
board within 30 days of the transfer.
(c) A license issued by the board shall not
be transferred from one owner to another. The following shall constitute a
change of ownership and shall require a new application for licensure:
(1) any transfer of a beneficial interest in
a business entity licensed by the board , in a single transaction or in a series
of transactions, to any person or entity, which transfer results in the
transferee's holding 50% or more of the beneficial interest in that license .
The new owner shall apply to the board for licensure in advance of the proposed
transaction taking place.
(d) If any beneficial interest of a business
entity licensed by the board is held in trust, the applicant, licensee, or any
person with management or control of the business entity shall do the
following:
(1) In addition to the
requirements in subdivision (a), as part of their application and renewal,
report the name of any other person in any position with management or control
of the business entity;
(2) As part
of the application, disclose the full name of the trust, and provide to the
board a complete copy of, and any amendments to, the trust document. A trust
document and any related amendments shall be considered confidential financial
documents by the board ;
(3) As part
of annual renewal, provide to the board a complete copy of any amendments to
the trust document made after submission of the original application;
(4) Include in the application and annual
renewal the name, address, phone number, and any email address for each
grantor, settlor, trustee, and/or trust protector, as applicable;
(5) Include in the application and annual
renewal the name, address, phone number, and any email address for each named
beneficiary of the trust who is age 18 or older. Where the beneficiary is under
age 18, the guardian of the beneficiary(ies) shall be identified; and
(6) Notify the board in writing within 30
days of all the following:
(A) A change in
trustee, protector or any other person with management or control of the
business entity;
(B) Any change in
the beneficiaries of the trust, where the beneficiary is age 18 or older. Where
the beneficiary is under age 18, the guardian of the beneficiary(ies) shall be
identified;
(C) The revocation of
the trust;
(D) The dissolution of
the trust;
(E) Any amendment to the
trust since the original application; and
(F) Any change in the character of the trust,
including, but not limited to, the trust changing from revocable to
irrevocable.
Notes
2. Amendment and renumbering of Section 1709.2 to 1709 filed 7-21-66; effective thirtieth
3. Amendment filed 5-14-69; effective thirtieth
4. Amendment filed 2-22-80; effective thirtieth
5. Editorial correction (Register 95, No. 16).
6. Amendment of newly designated subsection (a), new subsections (b) and (c) and amendment of NOTE filed 1-15-97; operative 2-14-97 (Register 97, No. 3).
7. Change without regulatory effect amending NOTE filed 9-11-2002 pursuant to section 100, title 1, California
8. Amendment of section heading, section and NOTE filed 1-11-2022; operative 4-1-2022 (Register 2022, No. 2).
Note: Authority cited: Section
4005,
Business and Professions
2. Amendment and renumbering of Section 1709.2 to 1709 filed 7- 21-66; effective thirtieth
3. Amendment filed 5-14-69; effective thirtieth
4. Amendment filed 2-22-80; effective thirtieth
5. Editorial correction (Register 95, No. 16).
6. Amendment of newly designated subsection (a), new subsections (b) and (c) and amendment of Note filed 1-15-97; operative 2-14-97 (Register 97, No. 3).
7. Change without regulatory effect amending Note filed 9-11-2002 pursuant to section 100, title 1, California
8. Amendment of section heading, section and Note filed 1-11-2022; operative
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