(a) Assignment/Transfer: No party may assign or transfer an LPFM license if:
(1) Consideration promised or received exceeds the depreciated fair market value of the physical equipment and facilities; and/or
(2) The transferee or assignee is incapable of satisfying all eligibility criteria that apply to a LPFM licensee.
(b) A change in the name of an LPFM licensee where no change in ownership or control is involved may be accomplished by written notification by the licensee to the Commission.
(c) Holding period: A license cannot be transferred or assigned for three years from the date of issue, and the licensee must operate the station during the three-year holding period.
(d) No party may assign or transfer an LPFM construction permit at any time.
(e) Transfers of control involving a sudden change of more than 50 percent of an LPFM's governing board shall not be deemed a substantial change in ownership or control, subject to the filing of an FCC Form 316. [73 FR 3216, Jan. 17, 2008]