Sec.  101.55   Considerations involving transfer or assignment applications.

   (a) Except as provided for in paragraph (d) of this section, licenses not
   authorized pursuant to competitive bidding procedures may not be assigned or
   transferred prior to the completion of construction of the facility.

   (b) [Reserved]

   (c) At its discretion, the Commission may require the submission of an
   affirmative, factual showing (supported by affidavits of a person or persons
   with personal knowledge thereof) to demonstrate that the proposed assignor
   or transferor has not acquired an authorization or operated a station for
   the principal purpose of profitable sale rather than public service. This
   showing may include, for example, a demonstration that the proposed
   assignment or transfer is due to changed circumstances (described in detail)
   affecting the licensee subsequent to the acquisition of the license, or that
   the proposed transfer of radio facilities is incidental to a sale of other
   facilities or merger of interests.

   (d) If a proposed transfer of radio facilities is incidental to a sale or
   other facilities or merger of interests, the showing specified under
   paragraph (c) of this section shall be submitted and include an additional
   exhibit that:

   (1) Discloses complete details as to the sale of facilities or merger of
   interests;

   (2) Segregates clearly by an itemized accounting, the amount of
   consideration involved in the sale of facilities or merger of interests; and

   (3) Demonstrates that the amount of consideration assignable to the
   facilities or business interests involved represents their fair market value
   at the time of the transaction.

   [ 61 FR 26677 , May 28, 1996, as amended at  63 FR 6104 , Feb. 6, 1998;  63 FR 68982 , Dec. 14, 1998;  65 FR 38327 , June 20, 2000;  68 FR 4955 , Jan. 31, 2003]