(a) If an applicant for or the holder of a license transfers ownership or no longer is an agent for the licensed rental housing or changes address, the applicant or licensee must notify the Department within 10 days of the change. The Director may reject an application or suspend or revoke a license if the applicant or licensee does not notify the Department as required by this subsection.
(b) Any person who takes over the operation of licensed rental housing may transfer the license for the unexpired portion of the term for which it was issued by applying to the Director within 15 days after taking over operation and paying a license transfer fee of at least $5 per dwelling unit, but not exceeding $25. Nothing in this Section affects the validity of any sale, transfer, or disposition of any interest in real estate. This subsection does not apply to accessory dwelling units.
(c) Whenever the ownership of any rental housing changes hands, the transferor must notify all tenants of the name, address and office location of the transferee. If the transferee is a corporation, the transferor must list the name and address of the resident agent of the transferee. (1972 L.M.C., ch. 27, § 1; 1973 L.M.C., ch. 14, § 2; 1978 L.M.C., ch. 11, § 2; 1980 L.M.C., ch. 31, § 1; 1984 L.M.C., ch. 23, § 7; 2000 L.M.C., ch. 32, § 1; , §1.)
Editor's note—Section 29-24, formerly § 29-23, was renumbered and amended pursuant to 2000 L.M.C., ch. 32, § 1.
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