§  73.865   Assignment and transfer of LPFM licenses.

   (a) Assignment/Transfer: No party may assign or transfer an LPFM
   license if:

   (1) Consideration promised or received exceeds the depreciated fair
   market value of the physical equipment and facilities; and/or

   (2) The transferee or assignee is incapable of satisfying all
   eligibility criteria that apply to a LPFM licensee.

   (b) A change in the name of an LPFM licensee where no change in
   ownership or control is involved may be accomplished by written
   notification by the licensee to the Commission.

   (c) Holding period: A license cannot be transferred or assigned for
   three years from the date of issue, and the licensee must operate the
   station during the three-year holding period.

   (d) No party may assign or transfer an LPFM construction permit at any
   time.

   (e) Transfers of control involving a sudden change of more than 50
   percent of an LPFM's governing board shall not be deemed a substantial
   change in ownership or control, subject to the filing of an FCC Form
   316.

   [ 73 FR 3216 , Jan. 17, 2008]