Sec. 1.924  Assignment or transfer of control, voluntary and 
          involuntary.

    (a)(1) Radio station licenses are not transferable; however, except 
for those set forth in paragraph (a)(2) of this section, they may be 
assigned. Licenses may be assigned whenever there is a change of 
ownership of an authorized radio station, for example, if the radio 
communication equipment is sold with a business. The new owner must 
apply for assignment of the existing authorization in accordance with 
the rules under which the station is authorized.
    (2) Licenses for stations in the Amateur, Aviation (aircraft), 
Personal, and Maritime (ship) Radio Services cannot be assigned. 
Whenever there is a change of ownership of one of these latter stations, 
the new owner must apply for a new license. Upon receipt of the new 
license, the former license must be surrendered for cancellation.
    (b)(1) Application for consent to voluntary assignment of a license, 
or for consent to voluntary transfer of control of a corporation holding 
a license, must be filed with the Commission at least 60 days prior to 
the contemplated effective date of assignment or transfer of control.
    (2) The following application forms should be used:

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    (i) FCC Form 600. For assignment of station authorization in 
services under part 90 of this chapter, except as provided in 
subparagraph (ii). Attached thereto shall be an executed Form 1046 or a 
signed letter from proposed assignor stating the desire to assign the 
current authorization in accordance with the rules governing the 
particular radio service involved. Applications for consent to assign 
authorizations of stations operating in the 806-821 and 851-866 MHz 
bands shall be accompanied by FCC Form 574-A. Applications for 
assignment of authorizations for stations operating on frequencies below 
27.5 MHz shall be accompanied by FCC Form 574-B.
    (ii) FCC Form 402. For assignment of station authorizations in the 
Private Operational Fixed Microwave Service (part 101 of this chapter). 
Attached thereto shall be an executed Form 1046 or a signed letter from 
proposed assignor stating the assignor's desire to assign the current 
authorization in accordance with the rules governing the particular 
service involved.
    (iii) FCC Form 406. For assignment of ground station authorizations 
in the Aviation Services, except as provided in paragraph (b)(2)(ii) of 
this section.
    (iv) FCC Form 503. For assignment of coast station authorizations in 
the Maritme Services and Alaska-Public Fixed Stations.
    (v) [Reserved]
    (vi) FCC Form 703. For consent to transfer control of a corporation 
holding any type of part 90 license except a license to provide 
commercial mobile radio service.
    (vii) FCC Form 490. For consent to transfer control of a corporation 
holding a part 90 license to provide commercial mobile radio service.
    (c)(1) In the event of the death or legal disability of a permittee 
or licensee, a member of a partnership, or a person directly or 
indirectly in control of a corporation which is a permittee or licensee, 
the Commission shall be notified in writing promptly of the occurrence 
of such death or legal disability.
    (2) Within 30 days after the occurrence of such death or legal 
disability (except in the case of a ship or amateur station), 
application shall be filed for consent to involuntary assignment of such 
permit or license, or for involuntary transfer of control of such 
corporation, to a person or entity legally qualified to succeed to the 
foregoing interests under the laws of the place having jurisdiction over 
the estate involved. The procedure and forms to be followed are the same 
as those specified in paragraph (b) of this section.
    (3) In the case of stations in the Amateur, Aviation (aircraft), 
Personal, and Maritime (ship) Radio Services, involuntary assignment of 
licenses will not be made; such licenses shall be surrendered for 
cancellation upon the death or legal disability of the licensee.
    (d) An applicant for voluntary transfer of control or assignment 
under this section where the subject license was acquired by the 
transferor or assignor through a system of random selection shall, 
together with its application for transfer of control or assignment, 
file with the Commission the associated contracts for sale, option 
agreements, management agreements, or other documents disclosing the 
total consideration that the applicant would receive in return for the 
transfer or assignment of its license. This information should include 
not only a monetary purchase price, but also any future, contingent, in-
kind, or other consideration (e.g., management or consulting contracts 
either with or without an option to purchase; below-market financing).

(Sec. 310, 48 Stat. 1086, as amended; 47 U.S.C. )
[28 310 FR 12454 , Nov. 22, 1963, as amended at  31 FR 2600 , Feb. 10, 1966;  36 FR 19439 , Oct. 6, 1971;  36 FR 21679 , Nov. 12, 1971;  42 FR 8327 , Feb. 9, 
1977;  44 FR 31651 , June 1, 1979;  45 FR 55201 , Aug. 19, 1980;  47 FR 57051 , Dec. 22, 1982;  48 FR 8455 , Mar. 1, 1983;  49 FR 30944 , Aug. 2, 
1984;  51 FR 2703 , Jan. 21, 1986;  59 FR 9101 , Feb. 25, 1994;  59 FR 59949 , 
Nov. 21, 1994;  61 FR 26671 , May 28, 1996]