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,

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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.

[ 44 FR 58720 , Oct. 11, 1979, as amended at  56 FR 64872 , Dec. 12, 1991]