Sec.  73.3615   Ownership reports.

   (a) With the exception of sole proprietorships and partnerships composed
   entirely of natural persons, each licensee of a commercial AM, FM, or TV
   broadcast station shall file an Ownership Report on FCC Form 323 when filing
   the station's license renewal application and every two years thereafter on
   the anniversary of the date that its renewal application is required to be
   filed. Licensees owning multiple stations with different anniversary dates
   need file only one Report every two years on the anniversary of their
   choice, provided that their Reports are not more than two years apart. A
   licensee with a current and unamended Report on file at the Commission may
   certify that it has reviewed its current Report and that it is accurate, in
   lieu of filing a new Report. Ownership Reports shall provide the following
   information as of a date not more than 60 days prior to the filing of the
   Report:

   (1) In the case of an individual, the name, race or ethnicity, and gender of
   such individual;

   (2) In the case of a partnership, the name, race or ethnicity, and gender of
   each partner and the interest of each partner. Except as specifically noted
   below, the names of limited partners shall be reported. A limited partner
   need not be reported, regardless of the extent of its ownership, if the
   limted partner is not materially involved, directly or indirectly, in the
   management or operation of the licensee and the licensee so certifies.

   (i) Any change in partners or in their rights will require prior consent of
   the FCC upon an application for consent to assignment of license or permit.
   If such change involves less than a controlling interest, the application
   for FCC consent to such changes may be made upon FCC Form 316.

   (ii) [Reserved]

   (3) In the case of a corporation, association, trust, estate or
   receivership, the data applicable to each:

   (i)(A) The name, residence, citizenship, race or ethnicity, gender, and
   stockholding of every officer, director, trustee, executor, administrator,
   receiver and member of an association, and any stockholder which holds stock
   accounting for 5 percent or more of the votes of the corporation, except
   that an investment company, insurance company, or bank trust department need
   be reported only if it holds stock amounting to 10 percent or more of the
   votes, provided that the licensee certifies that such entity has made no
   attempt to influence, directly or indirectly, the management or operation of
   the licensee, and that there is no representation on the licensee's board or
   among its officers by any person professionally or otherwise associated with
   the entity.

   (B) A licensee shall report any separate interests known to the licensee to
   be held ultimately by the same individual or entity, whether those interests
   are held in custodial accounts, by individual holding corporations or
   otherwise, if, when aggregated:

   (1) The sum of all interests except those held by or through “passive
   investors” is equal to or exceeds 5 percent; or

   (2) The sum of all interests held by or through “passive investors” is equal
   to or exceeds 10 percent; or

   (3) The sum of the interests computed under paragraph (a)(3)(i)(B)(1) of
   this section plus the sum of the interests computed under paragraph
   (a)(3)(i)(B)(2) of this section is equal to or exceeds 10 percent.

   (C) If the majority of the voting stock of a corporate licensee is held by a
   single individual or entity, no other stockholding need be reported for that
   licensee;

   (ii) Full information as to family relationship or business association
   between two or more officials and/or stockholders, trustees, executors,
   administrators, receivers, and members of any association;

   (iii) Capitalization with a description of the classes and voting power of
   stock authorized by the corporate charter or other appropriate legal
   instrument and the number of shares of each class issued and outstanding;
   and

   (iv) Full information with respect to the interest and identity of any
   person having any direct, indirect, fiduciary, or beneficial interest in the
   licensee or in its stock accounting for 5% or more of its votes. For
   example:

   (A) Where A is the trustee of stock held for beneficiary B, A shall be
   reported if A votes the stock or has the sole or shared power to dispose of
   the stock; B or any other party shall be reported if B or such party votes
   the stock or has sole power to dispose of the stock or has the power to
   revoke the trust or replace the trustee at will;

   (B) Where X is not a natural person and has attributable ownership interest
   in the licensee under  Sec. 73.3555 of the rules, regardless of its position in
   the vertical ownership chain, an Ownership Report shall be filed for X
   which, except as specifically noted below, must contain the same information
   as required of a licensee. If X has a voting stockholder interest in the
   licensee, only those voting interests of X that are cognizable after
   application of the “multiplier” described in note 2(c) of  Sec. 73.3555 of the
   rules, if applicable, shall be reported. If X is a corporation, whether or
   not its interest in the licensee is by virtue of its ownership of voting
   stock, the officers and directors shall be reported. With respect to those
   officers and directors whose duties and responsibilities are wholly
   unrelated to the licensee, and who wish to be relieved of attribution in the
   licensee, the name, title and duties of these officers and directors, with
   statements properly documenting that their duties do not involve the
   licensee, shall be reported.

   (4) In the case of all licensees:

   (i) A list of all contracts still in effect required to be filed with the
   FCC by  Sec. 73.3613 showing the date of execution and expiration of each
   contract; and

   (ii) Any interest which the licensee may have in any other broadcast
   station.

   (b) Except as specifically noted below, each permittee of a commercial AM,
   FM or TV broadcast station shall file an Ownership Report on FCC Form 323
   (1) within 30 days of the date of grant by the FCC of an application for
   original construction permit and (2) on the date that it applies for a
   station license. The Ownership Report of the permittee shall give the
   information required by the applicable portions of paragraph (a) of this
   section. A permittee with a current and unamended Report on file at the
   Commission may certify that it has reviewed its current Report and it is
   accurate, in lieu of filing a new Report.

   (c) Before any change is made in the organization, capitalization, officers,
   directors, or stockholders of a corporation other than licensee or
   permittee, which results in a change in the control of the licensee or
   permittee, prior FCC consent must be received under  Sec. 73.3540. A transfer of
   control takes place when an individual or group in privity, gains or loses
   affirmative or negative (50%) control. See instructions on FCC Form 323
   (Ownership Report). Each permittee or licensee of a commercial AM, FM or TV
   Broadcast station shall file an Ownership Report on FCC Form 323 within 30
   days of consummating authorized assignments or transfers of permits and
   licenses. The Ownership Report of the permittee or licensee shall give the
   information required by the applicable portions of paragraph (a) of this
   section.

   (d) Each licensee of a noncommercial educational AM, FM or TV broadcast
   station shall file an Ownership Report on FCC Form 323–E when filing the
   station's license renewal application and every two years thereafter on the
   anniversary of the date that its renewal application is required to be
   filed. Licensees owning more than one noncommercial educational AM, FM or TV
   broadcast station with different anniversary dates need file only one Report
   every two years on the anniversary of their choice, provided that their
   Reports are not more than two years apart. A licensee with a current and
   unamended Report on file at the Commission may certify that it has reviewed
   its current Report and that it is accurate, in lieu of filing a new Report.
   Ownership reports shall give the following information as of a date not more
   than 60 days prior to the filing of the Ownership Report:

   (1) The following information as to all officers, members of governing
   board, and holders of 1% or more ownership interest (if any): Name,
   residence, office held, citizenship, principal profession or occupation, and
   by whom appointed or elected.

   (2) Full information with respect to the interest and identity of any
   individual, organization, corporation, association, or any other entity
   which has direct or indirect control over the licensee or permittee.

   (3) A list of all contracts still in effect required by  Sec. 73.3613 to be filed
   with the FCC, showing the date of execution and expiration of each contract.

   (4) Any interest which the licensee or permittee or any of its officers,
   members of the governing board, and holders of 1% or more ownership interest
   (if any) held in any other broadcast station.

   (e) Each permittee of a noncommercial educational AM, FM or TV broadcast
   station shall file an Ownership Report on FCC Form 323–E:

   (1) Within 30 days of the date of grant by the FCC of an application for
   original construction permit and;

   (2) On the date that it applies for a station license. The Ownership Report
   of the permittee shall give the information required by the applicable form.
   A permittee with a current and unamended Report on file at the Commission
   may certify that it has reviewed its current Report and it is accurate, in
   lieu of filing a new Report.

   (f) Each permittee or licensee of a noncommercial educational AM, FM or TV
   Broadcast station shall file an Ownership Report on FCC Form 323–E within 30
   days of consummating authorized assignments or transfers of permits and
   licenses. The Ownership Report of the noncommercial educational permittee or
   licensee shall give the information required by the applicable form.

   (g) A copy of all ownership and supplemental ownership reports and related
   material filed pursuant to this section shall be maintained and made
   available for public inspection locally as required by  Sec.  Sec. 73.3526 and
   73.3527.

   [ 44 FR 38513 , July 2, 1979, as amended at  49 FR 19498 , May 8, 1984;  50 FR 27450 , July 3, 1985;  50 FR 40016 , Oct. 1, 1985;  53 FR 2499 , Jan. 28, 1988;
    53 FR 5684 , Feb. 25, 1988;  63 FR 70050 , Dec. 18, 1998;  66 FR 9973 , Feb. 13,
   2001;  66 FR 12897 , Mar. 1, 2001]