Sec.  24.839   Transfer of control or assignment of license.

   (a) Restrictions on Assignments and Transfers of Licenses for Frequency
   Blocks C and F won in closed bidding. No assignment or transfer of control
   of  a license for frequency Block C or frequency Block F won in closed
   bidding pursuant to the eligibility requirements of  Sec. 24.709 will be granted
   unless:

   (1) The application for assignment or transfer of control is filed after
   five years from the date of the initial license grant; or

   (2) The proposed assignee or transferee meets the eligibility criteria set
   forth in  Sec. 24.709 of this part at the time the application for assignment or
   transfer of control is filed, or the proposed assignee or transferee holds
   other license(s) for frequency blocks C and F and, at the time of receipt of
   such license(s), met the eligibility criteria set forth in  Sec. 24.709 of this
   part; or

   (3) The application is for partial assignment of a partitioned service area
   to  a rural telephone company pursuant to  Sec. 24.714 of this part and the
   proposed assignee meets the eligibility criteria set forth in  Sec. 24.709 of
   this part; or

   (4) The application is for an involuntary assignment or transfer of control
   to  a  bankruptcy  trustee  appointed under involuntary bankruptcy, an
   independent receiver appointed by a court of competent jurisdiction in a
   foreclosure action, or, in the event of death or disability, to a person or
   entity legally qualified to succeed the deceased or disabled person under
   the laws of the place having jurisdiction over the estate involved; provided
   that, the applicant requests a waiver pursuant to this paragraph; or

   (5) The assignment or transfer of control is pro forma; or

   (6) The application for assignment or transfer of control is filed on or
   after  the  date  the licensee has notified the Commission pursuant to
    Sec. 24.203(c) that its five-year construction requirement has been satisfied.

   (b) If the assignment or transfer of control of a license is approved, the
   assignee or transferee is subject to the original construction requirement
   of  Sec. 24.203 of this part.

   [ 63 FR 68953 , Dec. 14, 1998; as amended at  65 FR 53638 , Sept. 5, 2000]