Change of Ownership

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).
   • Fees & Documents required - Category 1

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 20% or more in the accredited entity. This applies whether such change is the result of one or a series of transactions.
   • Fees & Documents required - Category 2