TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1175 THE BARBER, COSMETOLOGY, ESTHETICS, HAIR BRAIDING, AND NAIL TECHNOLOGY ACT OF 1985
SECTION 1175.345 CHANGE OF OWNERSHIP


 

Section 1175.345  Change of Ownership

 

a)         When the ownership of an approved school changes, the new owner shall, within 5 working days from the date title to the school is transferred, mail to the Division the following:

 

1)         A signed and completed school application;

 

2)         A floor plan if any expansion is to be done by the new owner;

 

3)         A copy of a lease agreement showing at least a 1 year commitment or certification of school site ownership;

 

4)         A copy of the student contract that will be utilized by the new owner;

 

5)         A copy of the Articles of Incorporation, if the owner is a corporation; if the owner is a limited liability company, a copy of the Articles of Organization;

 

6)         A listing of all partners and their addresses, if the owner is a partnership;

 

7)         A copy of curricula that will be used by the new owner;

 

8)         A sample copy of the school's official transcript;

 

9)         A Commitment Statement, as provided in the licensure application packet, signed and dated by the school's chief managing employer and a statement signed and dated by each partner or each officer of the corporation;

 

10)        List of all the names, addresses and current status of all schools in which the applicant has previously owned any interest, and a declaration as to whether any of these schools were ever denied accreditation or licensing or lost accreditation or licensing from any government body or accrediting agency;

 

11)        A signed inspection report by the local fire inspection authority within 6 months after application approving the school site;

 

12)        A financial statement prepared by a certified public accountant licensed by the Division pursuant to the Illinois Public Accounting Act [225 ILCS 450] who is not an employee of the school, indicating sufficient finances exist to operate the school for 1 full year;

 

13)        If a name change is to also occur, the new owner must submit a sample of the new school seal and a photo of the new school sign; and

 

14)         The required fee set forth in Section 1175.100.

 

b)         Once the items listed in subsection (a) have been received, the Division shall conduct an inspection prior to approval of the change of ownership.  Approval will be granted if the requirements of Subpart C have been met.

 

c)         If the new owner fails to submit a new application, or if the Division does not approve the school, the school shall remain closed until final Division approval is received.

 

(Source:  Amended at 38 Ill. Reg. 21098, effective November 7, 2014)