§ 908.12. Retention on the List of Qualified Persons.
200 words·~1 min read·
/us/cfr/t36/s§ 908.12·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Once placed on the List, the Corporation shall keep a Person on the List until:
(1)The Corporation receives a written request from the Qualified Person to be removed from the List;
(2)The Qualified Person is relocated into or has a binding lease commitment for Newly Developed Space;
(3)The Qualified Person sells, transfers, or merges its interest in the displaced business, unless after such change in ownership Qualified Persons have at least fifty-one percent of the interest in the resulting business; or
(4)The Corporation receives a mailing returned from the Post Office that the Person is not located at the known address and left no forwarding address, provided that the Corporation shall reinstate any such removed name if the Person provides the Corporation with a current address; or
(5)The Corporation ceases operations upon completion of the Plan.
(b)A Qualified person relocated into newly developed space, may only again be placed on the List:
(1)If another branch of its business is subsequently displaced from space within the Development Area which is not Newly Developed Space; and
(2)If all requirements of § 908.10 of the rule are met with regard to the subsequent displacement.