Sec. 73.3540  Application for voluntary assignment or transfer of 
          control.

    (a) Prior consent of the FCC must be obtained for a voluntary 
assignment or transfer of control.
    (b) Application should be filed with the FCC at least 45 days prior 
to the contemplated effective date of assignment or transfer of control.
    (c) Application for consent to the assignment of construction permit 
or license must be filed on FCC Form 314 ``Assignment of license'' or 
FCC Form 316 ``Short form'' (See paragraph (f) of this section).
    (d) Application for consent to the transfer of control of a 
corporation holding a construction permit or license must be filed on 
FCC Form 315 ``Transfer of Control'' or FCC Form 316 ``Short form'' (see 
paragraph (f) of this section).
    (e) Application for consent to the assignment of construction permit 
or license or to the transfer of control of a corporate licensee or 
permittee for an FM or TV translator station, a low power TV station and 
any associated auxiliary station, such as translator microwave relay 
stations and UHF translator booster stations, only must be filed on FCC 
Form 345 ``Application for Transfer of Control of Corporate Licensee or 
Permittee, or Assignment of License or Permit for an FM or TV translator 
Station, or a Low Power TV Station.''
    (f) The following assignment or transfer applications may be filed 
on FCC ``Short form'' 316:
    (1) Assignment from an individual or individuals (including 
partnerships) to a corporation owned and controlled by such individuals 
or partnerships without any substantial change in their relative 
interests;
    (2) Assignment from a corporation to its individual stockholders 
without effecting any substantial change in the disposition of their 
interests;

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    (3) Assignment or transfer by which certain stockholders retire and 
the interest transferred is not a controlling one;
    (4) Corporate reorganization which involves no substantial change in 
the beneficial ownership of the corporation;
    (5) Assignment or transfer from a corporation to a wholly owned 
subsidiary thereof or vice versa, or where there is an assignment from a 
corporation to a corporation owned or controlled by the assignor 
stockholders without substantial change in their interests; or
    (6) Assignment of less than a controlling interest in a partnership.

[ 44 FR 38496 , July 2, 1979, as amended at  48 FR 21486 , May 12, 1983;  49 FR 47843 , Dec. 7, 1984;  50 FR 32416 , Aug. 12, 1985]