§  73.3615   Ownership reports.

   (a) The Ownership Report FCC Form 323 must be electronically filed no
   later than November 1, 2009, and every two years thereafter by each
   licensee of a commercial AM, FM, or TV broadcast station (“Licensee”)
   and each entity that holds an interest in the licensee that is
   attributable for purposes of determining compliance with the
   Commission's multiple ownership rules ( see Notes 1–3 to 47 CFR
   73.3555) or would be attributable but for the single majority
   shareholder exemption ( see former Note 2(b) of 47 CFR 73.3555 and
   Order 16 FCC Rcd 22310 (2001)) or the higher threshold for attribution
   of certain interests in eligible entities under the Equity Debt Plus
   attribution standard ( see Note 2(i) to 47 CFR 73.3555) (“Respondent”).
   A Licensee or Respondent with a current and unamended Report on file at
   the Commission, which was filed on or by the November 1, 2009 initial
   filing date or thereafter, may electronically 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 October 1 of the year in which the report is filed:

   (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 § 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 § 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 § 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
   § 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 § 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 § § 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;  74 FR 25168 , May 27,
   2009]

   Effective Date Note:   At  74 FR 25168 , May 27, 2009, § 73.3615 was
   amended by revising paragraph (a) introductory text. This paragraph
   contains information collection and recordkeeping requirements and will
   not become effective until approval has been given by the Office of
   Management and Budget.