Illinois Administrative Code › Title 68 - PROFESSIONS AND OCCUPATIONS › Part 1175 - THE BARBER, COSMETOLOGY, ESTHETICS, HAIR BRAIDING, AND NAIL TECHNOLOGY ACT OF 1985 › Subpart O - HAIR BRAIDING SCHOOLS › Section 1175.1550 - Change of Ownership

Current through Register Vol. 48, No. 28, July 12, 2024
a) For
				purposes of this Section, "change of ownership", "sale" or "transfer" of a
				corporation means the transfer of more than 50% of the stock during a 14-day
				period. For purposes of this Section, "change of ownership", "sale" or
				"transfer" of a partnership means a change of more than 50% of the partners
				during a 14-day period. For purposes of this Section, "change of ownership",
				"sale" or "transfer" of an LLC means a change of more than 50% of the members
				during a 14-day period. Any change of ownership of a parent business entity
				that owns the school's owner shall not be considered a change of ownership of
				the school.
b) If a licensed school
				is to be sold or otherwise transferred, the new owner must notify the Division
				at least 30 days in advance of the effective date of the transfer of ownership.
				The notification shall include a signed and dated letter from the pre-transfer
				owner acknowledging the planned sale or transfer.
c) Upon filing notice to the Division, the
				new owner may continue to operate the school under the previously issued
				license, provided that the new owner submits an application for licensure to
				the Division within 30 days after the effective date of the transfer of
				ownership, by mailing to the Division:
1) A
				signed and completed school application;
2) If the new owner is a corporation, limited
				liability company or partnership, a copy of the following:
A) if the owner is a domestic corporation, a
				filed copy of the Articles of Incorporation, filed with the Secretary of State
				or, in the case of a foreign corporation, a filed copy of the Authority to
				Transact Business in Illinois accepted by and filed with the Secretary of
				State;
B) if the owner is a
				domestic limited liability company, a copy of the Articles of Organization that
				were filed with the Secretary of State or, if the owner is a foreign limited
				liability company, a copy of the Application for Admission to Transact Business
				as a Foreign Limited Liability Company accepted by and filed with the Secretary
				of State; or
C) if the owner is a
				partnership, a listing of all partners and their addresses;
3) Name, address and telephone
				number of the school;
4) Name,
				address and telephone number of the chief managing employee;
5) If the new owner will be conducting
				business under an assumed name as described in the Assumed Business Name Act [
				805 ILCS 405 ], a copy of the application to adopt an assumed name filed with
				the government office responsible for approving the assumed name;
6) A Commitment Statement, as provided in the
				licensure application packet, signed and dated by the school's chief
				administrative officer;
7) A
				listing of all teachers who will be in the school's employ, showing a
				sufficient number of qualified teachers who are holders of a current hair
				braiding teacher license or cosmetology teacher license issued by the
				Division;
8) A detailed 81/2 x 11
				inch floor plan that is:
A) drawn to
				scale;
B) shows the
				dimensions;
C) has all areas
				labeled;
D) has all fixtures shown;
				and
E) demonstrates compliance with
				the requirements of Section
				1175.305;
9) A copy of:
A) a lease showing at least a 1 year
				commitment to the use of the school site, the address of the school site, the
				name of the lessor, and the name of the lessee; or
B) the certification of ownership of the
				school site;
10) An
				official fire inspection report from the local fire inspection authority,
				conducted in the 6 months immediately preceding application, giving approval
				for use of the site as a school;
11) A financial statement indicating that
				sufficient current finances exist to operate the school for at least 3 months.
				The Division will not accept a bank statement as sufficient proof to meet this
				requirement. This financial statement shall include reporting cash assets on
				hand and any liabilities and shall be prepared by either a certified public
				accountant or a person knowledgeable about the finances of the school. Any
				financial statement submitted by a person who is not a certified public
				accountant must contain a signed statement certifying under penalty of perjury
				that the information is true and accurate based upon inspection of the
				financial records of the school;
12) A copy of the official enrollment
				agreement to be used by the school, which shall be consistent with the
				requirements of Section
				1175.1515;
13) A copy of the curricula for each program
				offered by the school, which shall be consistent with the requirements of this
				Part;
14) A copy of the transcript
				to be used by the school for each program, which shall be consistent with the
				requirements of Section
				1175.1525;
15) A copy of the final examination to be
				used by the school, which shall be consistent with the requirements of Section
				1175.1545;
16) A sample of the school seal to be used by
				the school;
17) A photograph of the
				school sign to be used by the school; and
18) The required fee set forth in Section
				1175.100.