Sec.  25.119   Assignment or transfer of control of station authorization.

   (a) You must file an application for Commission authorization before you can
   transfer, assign, dispose of (voluntarily or involuntarily, directly or
   indirectly,  or by transfer of control of any corporation or any other
   entity) your station license or accompanying rights. The Commission will
   grant your application only if it finds that doing so will serve the public
   interest, convenience and necessity.

   (b) For purposes of this section, transfers of control requiring Commission
   approval shall include any and all transactions that:

   (1) Change the party controlling the affairs of the licensee, or

   (2) Affect any change in a controlling interest in the ownership of the
   licensee, including changes in legal or equitable ownership.

   (c) Assignment of license. You must submit an FCC Form 312, Main Form and
   Schedule A to voluntarily assign (e.g., as by contract or other agreement)
   or involuntarily assign (e.g., as by death, bankruptcy, or legal disability)
   your station authorization. You must file these forms electronically through
   IBFS.

   (d) Transfer of control of corporation holding license. If you want to
   transfer  control  of  a corporation, which holds one or more licenses
   voluntarily or involuntarily (de jure or de facto), you must submit an FCC
   Form 312, Main Form and Schedule A. You must file these forms electronically
   through IBFS. For involuntary transfers, you must file your application
   within 10 days of the event causing the transfer of control. You can also
   use FCC Form 312, Main Form and Schedule A for non-substantial (pro forma)
   transfers of control.

   (e) Whenever a group of station licenses in the same radio service for the
   same class of facility licensed to the same entity is to be assigned or
   transferred to a single assignee or transferee, a single application may be
   filed to cover the entire group, if the application identifies in an exhibit
   each station by call sign, station location and expiration date of license.

   (f) Assignments and transfers of control shall be completed within 60 days
   from  the  date  of  authorization. Within 30 days of consumation, the
   Commission shall be notified by letter of the date of consummation and the
   file numbers of the applications involved in the transaction.

   (g) The Commission retains discretion in reviewing assignments and transfers
   of  control of space station licenses to determine whether the initial
   license was obtained in good faith with the intent to construct a satellite
   system.

   [ 56 FR 24016 , May 20, 1991;  56 FR 29757 , June 20, 1991. Redesignated and
   amended at  62 FR 5928 , 5929, Feb. 10, 1997;  68 FR 51503 , Aug. 27, 2003;  69 FR 29901 , May 26, 2004]