§ 94822
81 words·~1 min read·
/ca/education-code/94822A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Change in control” means a change in the ownership of an institution in which a person who previously did not own at least 25 percent of the stock or interest in the institution or its parent company acquires ownership of at least 25 percent of the stock or interest in the institution or its parent company. “Change in control” does not include an ownership change between family members involving less than 51 percent of the stock or interest in the institution.