Question

If a sale, assignment, transfer , merger, or consolidation of a business licensed under this chapter is completed, the purchaser , assignee, transferee, or surviving or new corp., who is not already licensed shall immediately apply for a license on a form prescribed by the board which shall include the general information required by the chapter

true or false

Answer 1

A new entity resulting from a business transaction like a sale, assignment, merger, or consolidation must apply for a license immediately if not already licensed, using a board-prescribed form with required information.

Step-by-step explanation:

In the context of business law, if a sale, assignment, transfer, merger, or consolidation of a business licensed under a specific chapter is completed, the new entity that has not yet been licensed is required to immediately apply for a license. This action is mandated to ensure regulatory compliance. The application must be on a prescribed form by the appropriate regulatory board and include all the general information as stipulated by the governing chapter.