TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1330 PHARMACY PRACTICE ACT
SECTION 1330.780 CHANGES OF OWNERSHIP, NAME, LOCATION, OR OPERATIONS OF A PHARMACY
Section 1330.780 Changes of Ownership, Name, Location, or Operations of a Pharmacy
a) A pharmacy application must be filed whenever any of the following occur:
1) 50% or more of the ownership of the business, other than a publicly traded business, to which the pharmacy license was issued is sold or otherwise transferred to a person or entity that does not hold any interest in the business issued the pharmacy license prior to the sale or transfer;
2) More than half the board of directors or executive officers of a business issued a pharmacy license changes;
3) Any change in the legal status of an entity (e.g., individual, partnership, corporation, limited liability company);
4) Any change in location of a pharmacy, including remodel of the pharmacy or drug storage area;
5) Any change in the name of a pharmacy; or
6) Any change in the pharmacy operations pursuant to Subpart E of this Part or the Act.
b) Any change of ownership of a parent company that owns a pharmacy shall not be considered a change of ownership of the pharmacy.
c) The application required by subsection (a) must be filed:
1) At least 90 days prior to occurrence of the change requiring the application for pharmacies located in Illinois.
2) No later than 30 days after the occurrence of the change requiring the application for pharmacies located outside of Illinois.
d) The Division must be notified no later than 30 days after any change in owners, partners, members, officers, directors, or shareholders owning 5% or more of the outstanding shares occurs, or any other change in the information provided on the application not specified in subsection (a).
(Source: Amended at 47 Ill. Reg. 8352, effective June 2, 2023)