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73.865 Assignment and transfer of LPFM authorizations

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Summary

LPFM stations can only be assigned, transferred or sold to another organization that is qualified to be an LPFM licensee (a non-commercial, educational organization). Stations and permits can not be sold for a profit. Simple name changes of the organization can be made by informal written notification to the FCC. A license (which suggests after construction is completed) can not be transferred for three years. A construction permit (before and during the time the station is being built) can not be transferred. If an organization's board changes by at least 50%, it is not considered a substantial change in ownership and therefore not subject to the three year holding period.

Text of Current Rule

(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.

Rule History

Amended in Dec 2007 Order

(a) An LPFM authorization may not be transferred or assigned except for a transfer or assignment that involves: (1) Less than a substantial change in ownership and control; or (2) An involuntary assignment of license or transfer of control.

(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.