| CA - CHANGE OF OWNERSHIP LAW EXCERPTS |
6-Feb-2013
CHANGE OF OWNERSHIP
Excerpts from the California Labor Code and the California Code of
Regulations Section 8
12000.5 TRANSFER OF LICENSE: Consent for the transfer of a license, as required by Labor Code Section 1700.20, shall be given only after the filing of a transfer application executed by the licensee and the proposed transferee in the form prescribed by the Labor Commissioner, which must be accompanied by the required filing fee, a surety bond as required in the case of a new application, together with the information required by Labor Code Section 1700.6(d) and California Code of Regulations, Title 8, Section 12000(e) regarding the proposed transferee. The proposed transferee must also submit, for approval or certification, any contract forms, or fee schedules in their proposed new form should changes in substance from previously approved or certified forms be intended.
12000.6 TRANSFER OF INTEREST IN THE BUSINESS OR RIGHT TO PARTICIPATE IN PROFITS: Before the issuance of written consent for the transfer of interest in the talent agency or in the right to participate in the profits as required by Labor Code Section 1700.30, notification shall be made to the Labor Commissioner in writing within 10 days of the transfer. The Labor Commissioner may require, pursuant to his or her discretion, that the person or persons to whom such interest in the business of the talent agency or right to share in the profits thereof is to be sold, transferred or given, complete the transfer application required by California Code of Regulations, Title 8, Section 12000.5 and supply the information required by Labor Code Section 1700.6(d) and California Code of Regulations, Title 8, Section 12000(e).
REFERENCED PROVISIONS:
California Code of Regulations, Title 8, Section 12000(e). APPLICATION: Application for the original license shall be made upon the form prescribed by the Labor Commissioner and shall contain the following information: (e) If applicant is not a corporation, questions must be answered as to each person or profit sharer listed in the application as having a financial interest in or the right to share in the net profits of the talent agency (1) regarding his business or occupation for the preceding five (5) years; (2) whether or not such person or profit sharer has ever been associated in any capacity in the operation or business of a talent agency; (3) whether or not such person has had a talent agency license or any license or permit issued by any agency of the State of California revoked, suspended, or refused, or any disciplinary action taken with respect to any such license or permit; (4) whether or not such person has been convicted of a crime except for minor traffic violations.
Labor Code Section 1700.6(d). LICENSE APPLICATION – CONTENTS: A written application for a license shall be made to the Labor Commissioner in the form prescribed by him or her and shall state: (d) If the applicant is other than a corporation, the names and addresses of all persons, except bona fide employees on stated salaries, financially interested, either as partners, associates, or profit sharers, in the operation of the talent agency in question, together with the amount of their respective interests. If the applicant is a corporation, the corporate name, the names, residential addresses, and telephone numbers of all officers of the corporation, the names of all persons exercising managing responsibility in the applicant or licensee's office, and the names and addresses of all persons having a financial interest of 10 percent or more in the business and the percentage of financial interest owned by those persons. The application shall be accompanied by two sets of fingerprints of the applicant and affidavits of at least two reputable residents of the city or county in which the business of the talent agency is to be conducted who have known, or been associated with, the applicant for two years, that the applicant is a person of good moral character or, in the case of a corporation, has a reputation for fair dealing.
Labor Code Section 1700.20. LICENSE – USE, TRANSFER, ASSIGNMENT: No license shall protect any other than the person to whom it is issued nor any places other than those designated in the license. No license shall be transferred or assigned to any person unless written consent is obtained from the Labor Commissioner.
Labor Code Section 1700.30. SALE, TRANSFER OF INTEREST – COMMISSIONER CONSENT REQUIRED: No talent agency shall sell, transfer, or give away to any person other than a director, officer, manager, employee, or shareholder of the talent agency any interest in or the right to participate in the profits of the talent agency without the written consent of the Labor Commissioner.
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