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Change of Ownership

IATAN has two categories defining a Change of Ownership.
They apply to the existing accredited entity and are detailed as follows:

Category 1 - Complete change

  1. A change where the existing sole proprietor disposes of their entire interest in the business.
  2. A change in a partnership where all of the existing partners relinquish their entire ownership.
  3. A change in a corporation where all of the existing stockholders relinquish their ownership shares.
  4. An existing accredited branch entity becomes a separate entity.
  5. An existing head or branch office location, presently accredited by IATAN, is acquired by another IATAN accredited entity (as a branch office location).

Category 2 – Partial/structural change

  1. The entity changes its legal structure.
    For example, when a sole proprietorship becomes incorporated or a partnership becomes a Limited Liability Corporation (LLC).
  2. A new or existing owner(s) acquires a principal interest of 30% or more in the accredited entity. This applies whether such change is the result of one or a series of transactions.

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