For-Profit Entity Assignment. If CONTRACTOR is a for-profit organization, any change in 15 the business structure, including but not limited to, the sale or transfer of more than ten percent (10%) of 16 the assets or stocks of CONTRACTOR, change to another corporate structure, including a change to a 17 sole proprietorship, or a change in fifty percent (50%) or more of Board of Directors or any governing 18 body of CONTRACTOR at one time shall be deemed an assignment pursuant to this paragraph.
For-Profit Entity Assignment. If Subrecipient is a for-profit organization, any change in the business structure, including but not limited to, the sale or transfer of more than ten percent (10%) of the assets or stocks of Subrecipient, change to another corporate structure, including a change to a sole proprietorship, shall be deemed an assignment. Assignment also includes a change in fifty percent (50%) or more of board of directors or any governing body of Subrecipient at one time. In said case, Subrecipient shall notify the County within fifteen (15) calendar days after the change in more than fifty percent (50%) of the board of director’s composition.
