(a) Where there is a change in the corporate officers or the designated managing licensed funeral director of a funeral establishment, such change, including the names and titles of the new corporate officers or the name of the new designated managing licensed funeral director, shall be reported to the bureau, in writing, within ten (10) days of such change on the form NC1 (12/93) prescribed by the bureau accompanied by the fee fixed by this division.

(b) Any transfer, in a single transaction or in a related series of transactions, of more than fifty percent (50%) of the equitable interest in the ownership of a licensed funeral establishment shall constitute a change of ownership and shall require assignment of the funeral establishment license, subject to the provisions of Section 7630, Division 3, Chapter 12, Article 2 of the Business and Professions Code. Such proposed change shall be reported to the bureau no later than thirty (30) days prior to the effective date thereof, however, no public notice shall be given by the bureau until after the effective date of the transaction.