Sec.  73.1150   Transferring a station.

   (a) In transferring a broadcast station, the licensee may retain no right of
   reversion of the license, no right to reassignment of the license in the
   future, and may not reserve the right to use the facilities of the station
   for any period whatsoever.

   (b) No license, renewal of license, assignment of license or transfer of
   control of a corporate licensee will be granted or authorized if there is a
   contract, arrangement or understanding, express or implied, pursuant to
   which, as consideration or partial consideration for the assignment or
   transfer, such rights, as stated in paragraph (a) of this section, are
   retained.

   (c) Licensees and/or permittees authorized to operate in the 535–1605 kHz
   and in the 1605–1705 kHz band pursuant to the Report and Order in MM Docket
   No.  87–267 will not be permitted to assign or transfer control of the
   license  or permit for a single frequency during the period that joint
   operation is authorized.

   (d) Authorizations awarded pursuant to the noncommercial educational point
   system  in  subpart  K  are subject to the holding period in  Sec. 73.7005.
   Applications for an assignment or transfer filed prior to the end of the
   holding period must demonstrate the factors enumerated therein.

   [ 44 FR 58720 , Oct. 11, 1979, as amended at  56 FR 64872 , Dec. 12, 1991;  65 FR 36378 , June 8, 2000]