A qualified HUBZone SBC must immediately notify SBA of any material change that could affect its eligibility. Material change includes, but is not limited to, a change in the ownership, business structure, or principal office of the concern, or a failure to meet the 35% HUBZone residency requirement (See Sec. 126.200 for certain eligibility requirements). The notification must be in writing, and must be sent or delivered to the D/HUB to comply with this requirement. Failure of a qualified HUBZone SBC to notify SBA of such a material change may result in decertification and removal from the List pursuant to Sec. 126.504. In addition, SBA may seek the imposition of penalties under Sec. 126.900. If the concern later becomes eligible for the program, it must apply for certification pursuant to Secs. 126.300 through 126.306. [69 FR 29424, May 24, 2004]