Home Table of Contents

§ 1709. Ownership, Management, and Control of Pharmacies and Other Regulated Business Entities.

16 CA ADC § 1709BARCLAYS OFFICIAL CALIFORNIA CODE OF REGULATIONS

Barclays Official California Code of Regulations Currentness
Title 16. Professional and Vocational Regulations
Division 17. California State Board of Pharmacy
Article 2. Pharmacies (Refs & Annos)
16 CCR § 1709
§ 1709. Ownership, Management, and Control of Pharmacies and Other Regulated Business Entities.
(a) Each license issued by the board to operate a pharmacy shall reflect the name and address of the pharmacy, the form of ownership, and the pharmacist-in-charge. Each pharmacy shall, in its initial application and on the annual renewal form, report the name of the pharmacist-in-charge, the names of all owners, and the names of the corporate officers (if a corporation). Any changes in the pharmacist-in-charge, or the owners, or corporate officers shall be reported to the board within 30 days of the change.
(b)(1) Any transfer, in a single transaction or in a series of transactions, of 10 percent or more of the beneficial interest in a business entity licensed by the board to a person or entity who did not hold a beneficial interest at the time the original license was issued, shall require written notification to the board within 30 days of the transfer.
(2) Any transfer of the management or control over a business entity licensed by the board to a person or entity who did not have management or control over the license at the time the original license was issued, shall require written notification to the board within 30 days of the transfer.
(c) A license issued by the board shall not be transferred from one owner to another. The following shall constitute a change of ownership and shall require a new application for licensure:
(1) any transfer of a beneficial interest in a business entity licensed by the board, in a single transaction or in a series of transactions, to any person or entity, which transfer results in the transferee's holding 50% or more of the beneficial interest in that license. The new owner shall apply to the board for licensure in advance of the proposed transaction taking place.
(d) If any beneficial interest of a business entity licensed by the board is held in trust, the applicant, licensee, or any person with management or control of the business entity shall do the following:
(1) In addition to the requirements in subdivision (a), as part of their application and renewal, report the name of any other person in any position with management or control of the business entity;
(2) As part of the application, disclose the full name of the trust, and provide to the board a complete copy of, and any amendments to, the trust document. A trust document and any related amendments shall be considered confidential financial documents by the board;
(3) As part of annual renewal, provide to the board a complete copy of any amendments to the trust document made after submission of the original application;
(4) Include in the application and annual renewal the name, address, phone number, and any email address for each grantor, settlor, trustee, and/or trust protector, as applicable;
(5) Include in the application and annual renewal the name, address, phone number, and any email address for each named beneficiary of the trust who is age 18 or older. Where the beneficiary is under age 18, the guardian of the beneficiary(ies) shall be identified; and
(6) Notify the board in writing within 30 days of all the following:
(A) A change in trustee, protector or any other person with management or control of the business entity;
(B) Any change in the beneficiaries of the trust, where the beneficiary is age 18 or older. Where the beneficiary is under age 18, the guardian of the beneficiary(ies) shall be identified;
(C) The revocation of the trust;
(D) The dissolution of the trust;
(E) Any amendment to the trust since the original application; and
(F) Any change in the character of the trust, including, but not limited to, the trust changing from revocable to irrevocable.
Note: Authority cited: Section 4005, Business and Professions Code. Reference: Sections 4035, 4037, 4058, 4101, 4110, 4111, 4112, 4113, 4120, 4130, 4131, 4201, 4205, 4207, 4302, 4305, 4307, 4308 and 4330, Business and Professions Code.
HISTORY
1. New section filed 8-23-61; effective thirtieth day thereafter (Register 61, No. 17).
2. Amendment and renumbering of Section 1709.2 to 1709 filed 7- 21-66; effective thirtieth day thereafter (Register 66, No. 23).
3. Amendment filed 5-14-69; effective thirtieth day thereafter (Register 69, No. 20).
4. Amendment filed 2-22-80; effective thirtieth day thereafter (Register 80, No. 8).
5. Editorial correction (Register 95, No. 16).
6. Amendment of newly designated subsection (a), new subsections (b) and (c) and amendment of Note filed 1-15-97; operative 2-14-97 (Register 97, No. 3).
7. Change without regulatory effect amending Note filed 9-11-2002 pursuant to section 100, title 1, California Code of Regulations (Register 2002, No. 37).
8. Amendment of section heading, section and Note filed 1-11-2022; operative 4-1-2022 (Register 2022, No. 2).
This database is current through 6/24/22 Register 2022, No. 25
16 CCR § 1709, 16 CA ADC § 1709
End of Document