Common use of Ownership and Financial Disclosure Clause in Contracts

Ownership and Financial Disclosure. ‌ The Contractor shall comply with § 1318 of the Health Maintenance Organization Act (42 U.S.C. § 300e, et seq.), as amended, which requires the disclosure and justification of certain transactions between the Contractor and any related party, referred to as a Party in Interest. Transactions reported under 42 U.S.C. § 300e, et seq., as amended, must be justified as to their reasonableness and potential adverse impact on fiscal soundness. The Contractor is required to obtain all relevant ownership and financial disclosure information from their own employees, Subcontractors, and network Providers. The Contractor shall not knowingly have persons, managing employee, agent or their affiliate who is debarred, suspended, or otherwise excluded from participating in Federal procurement activities as a director, officer, partner, or person with a beneficial ownership interest of more than five percent (5%) of the Contractor's equity or have an employment, consulting or other agreement with a person who has been convicted for the provision of items and services that are significant and material to the Contractor's obligations under this Contract, in accordance with 42 C.F.R. § 438.610. 1. Disclosures The Contractor must disclose all information in accordance with 42 C.F.R. § 455.104(b) that shall include: a. The name and address of any person (individual or corporation) with an ownership or control interest in the Contractor. The address for corporate entities must include as applicable primary business address, every business location, and P.O. Box address; Date of birth and Social Security Number (in the case of an individual); Other tax identification number (in the case of a corporation) with an ownership or control interest in the Contractor or in any Subcontractor in which the Contractor (or Division’s Agent or managed care entity) has a five percent (5%) or more interest; Whether the person (individual or corporation) with an ownership or control interest in the Contractor is related to another person with ownership or control interest in the Contractor as a spouse, parent, child, or sibling; or whether the person (individual or corporation) with an ownership or control interest in any Subcontractor in which the Contractor has a five percent (5%) or more interest is related to another person with ownership or control interest in the disclosing entity as a spouse, parent, child, or sibling; The name of any other disclosing entity (or the Division’s fiscal agent or other managed care entity) in which an owner of the Contractor has an ownership or control interest; and The name, address, date of birth, and Social Security Number of any managing employee of the Contractor. In accordance with 42 C.F.R. § 455.104(c), disclosures from the Contractor are due at any of the following times: a. Upon the Contractor submitting a Proposal in accordance with the State’s procurement process; b. Annually, including upon execution, renewal, or extension of the Contract with the State; and c. Within thirty-five (35) calendar days after any change in ownership of the Contractor. In accordance with 42 C.F.R. § 455.104(d), all disclosures must be provided to the Division, the State’s designated Medicaid agency. In accordance with 42 C.F.R. § 455.104(e), Federal financial participation is not available in payments made to a Contractor that fails to disclose ownership or control information as required by said section. As described in 42 C.F.R. § 438.808, FFP is also not available for any amounts paid to Contractor that could be excluded from participation in Medicare or Medicaid for any of the following reasons: a. Contractor is controlled by a sanctioned individual; b. Contractor has a contractual relationship that provides for the administration, management or provision of medical services, or the establishment of policies, or the provision of operational support for the administration, management or provision of medical services, either directly or indirectly, with an individual convicted of certain crimes as described in section 1128(b)(8)(B) of the Act; or c. Contractor employs or contracts, directly or indirectly, for the furnishing of health care, utilization review, medical social work, or administrative services, with one of the following: (a) any individual or entity excluded from participation in Federal health care programs.

Ownership and Financial Disclosure. ‌ The Contractor shall comply with § 1318 of the Health Maintenance Organization Act (42 U.S.C. § 300e, et seq.), as amended, which requires the disclosure and justification of certain transactions between the Contractor and any related party, referred to as a Party in Interest. Transactions reported under 42 U.S.C. § 300e, et seq., as amended, must be justified as to their reasonableness and potential adverse impact on fiscal soundness. The Contractor is required to obtain all relevant ownership and financial disclosure information from their own employees, Subcontractors, and network Providers. The Contractor shall not knowingly have persons, managing employee, agent or their affiliate who is debarred, suspended, or otherwise excluded from participating in Federal procurement activities as a director, officer, partner, or person with a beneficial ownership interest of more than five percent (5%) of the Contractor's equity or have an employment, consulting or other agreement with a person who has been convicted for the provision of items and services that are significant and material to the Contractor's obligations under this Contract, in accordance with 42 C.F.R. § 438.610. 1. Disclosures The Contractor must disclose all information in accordance with 42 C.F.R. § 455.104(b) that shall include: a. The name and address of any person (individual or corporation) with an ownership or control interest in the Contractor. The address for corporate entities must include as applicable primary business address, every business location, and P.O. Box address; Date of birth and Social Security Number (in the case of an individual); Other tax identification number (in the case of a corporation) with an ownership or control interest in the Contractor or in any Subcontractor in which the Contractor (or Division’s Agent or managed care entity) has a five percent (5%) or more interest; Whether the person (individual or corporation) with an ownership or control interest in the Contractor is related to another person with ownership or control interest in the Contractor as a spouse, parent, child, or sibling; or whether the person (individual or corporation) with an ownership or control interest in any Subcontractor in which the Contractor has a five percent (5%) or more interest is related to another person with ownership or control interest in the disclosing entity as a spouse, parent, child, or sibling; The name of any other disclosing entity (or the Division’s fiscal agent or other managed care entity) in which an owner of the Contractor has an ownership or control interest; and The name, address, date of birth, and Social Security Number of any managing employee of the Contractor. In accordance with 42 C.F.R. § 455.104(c), disclosures from the Contractor are due at any of the following times: a. Upon the Contractor submitting a Proposal in accordance with the State’s procurement process; b. Annually, including upon execution, renewal, or extension of the Contract with the State; and c. Within thirty-five (35) calendar days after any change in ownership of the Contractor. In accordance with 42 C.F.R. § 455.104(d), all disclosures must be provided to the Division, the State’s designated Medicaid agency. In accordance with 42 C.F.R. § 455.104(e), Federal financial participation is not available in payments made to a Contractor that fails to disclose ownership or control information as required by said section. As described in 42 C.F.R. § 438.808, FFP is also not available for any amounts paid to Contractor that could be excluded from participation in Medicare or Medicaid for any of the following reasons: a. Contractor is controlled by a sanctioned individual; b. Contractor has a contractual relationship that provides for the administration, management or provision of medical services, or the establishment of policies, or the provision of operational support for the administration, management or provision of medical services, either directly or indirectly, with an individual convicted of certain crimes as described in section 1128(b)(8)(B) of the Act; or c. Contractor employs or contracts, directly or indirectly, for the furnishing of health care, utilization review, medical social work, or administrative services, with one of the following: (a) any individual or entity excluded from participation in Federal health care programs.

Ownership and Financial Disclosure. ‌ The Contractor shall comply with § §1318 of the Health Maintenance Organization Act (42 U.S.C. § 300e, et seq.), as amended, which requires the disclosure and justification of certain transactions between the Contractor and any related party, referred to as a Party in Interest, and make reports of the same available to Members upon reasonable request. Transactions reported under 42 U.S.C. § 300e, et seq., as amended, must be justified as to their reasonableness and potential adverse impact on fiscal soundness. The Contractor is required to obtain all relevant ownership and financial disclosure information from their own employees, Subcontractorssubcontractors, and network Providersproviders. The Contractor shall not knowingly have any persons, managing employeeemployee(s), agent agent(s), or their affiliate affiliate(s) who is debarred, suspended, or otherwise excluded from participating in State or Federal procurement activities as a director, officer, partner, or person with a beneficial ownership interest of more than five percent (5%) of the Contractor's ’s equity or have an employment, consulting consulting, or other agreement with a person who has been convicted for the provision of items and services that are significant and material to the Contractor's ’s obligations under this Contract, in accordance with 42 C.F.R. § 438.610. 1. Disclosures 1.9.1 Information to be Disclosed‌ The Contractor must disclose all information in accordance with 42 C.F.R. § 455.104(b) that shall includeincluding: a. The name and address of any person (individual or corporation) with an ownership or control interest in the Contractor. The address for corporate entities must include as applicable primary business address, every business location, and P.O. Box address; ; b. Date of birth and Social Security Number (in the case of an individual); ; c. Other tax identification number (in the case of a corporation) with an ownership or control interest in the Contractor or in any Subcontractor in which the Contractor (or Division’s Agent or managed care entity) has a five percent (5%) or more interest; ; d. Whether the person (individual or corporation) with an ownership or control interest in the Contractor is related to another person with ownership or control interest in the Contractor as a spouse, parent, child, or sibling; or whether the person (individual or corporation) with an ownership or control interest in any Subcontractor in which the Contractor has a five percent (5%) or more interest is related to another person with ownership or control interest in the disclosing entity as a spouse, parent, child, or sibling; ; e. The name of any other disclosing entity (or the Division’s fiscal agent or other managed care entity) in which an owner of the Contractor has an ownership or control interest; and and f. The name, address, date of birth, and Social Security Number of any managing employee of the Contractor. . 1.9.2 When Information Will be Disclosed‌ In accordance with 42 C.F.R. § 455.104(c), disclosures from the Contractor are due at any of the following times: a. Upon the Contractor submitting a Proposal Qualification in accordance with the State’s procurement process; b. Annually, including upon execution, renewal, or extension of the Contract with the State; and c. Within thirty-five (35) calendar days after any change in ownership of the Contractor. Additionally, the Contractor is required to update the Division regarding any changes to 42 C.F.R. § 455.104(b) disclosures at the time of any such changes during the term of the Contract, within seven (7) calendar days of the change. 1.9.3 To Whom Information Will Be Disclosed‌ In accordance with 42 C.F.R. § 455.104(d), all disclosures must be provided to the Division, the State’s designated Medicaid agency. . 1.9.4 Federal Financial Participation‌ In accordance with 42 C.F.R. § 455.104(e), Federal financial participation Financial Participation (FFP) is not available in payments made to a Contractor that fails to disclose ownership or control information as required by said section. As described in 42 C.F.R. § 438.808, FFP is also not available for any amounts paid to the Contractor that could be excluded from participation in Medicare or Medicaid for any of the following reasons: a. The Contractor is controlled by a sanctioned individual; b. The Contractor has a contractual relationship that provides for the administration, management management, or provision of medical services, ; or the establishment of policies, ; or the provision of operational support for the administration, management management, or provision of medical services, either directly or indirectly, with an individual convicted of certain crimes as described in section 1128(b)(8)(B) of the Act; or c. The Contractor employs or contracts, directly or indirectly, for the furnishing of health care, utilization review, medical social work, or administrative services, services with one of the following: (a) any : 1. Any individual or entity excluded from participation in Federal health care programs, and/or 2. Any entity that would provide those services through an excluded individual or entity. 1.9.5 Information Related to Business Transactions‌ In accordance with 42 C.F.R. § 455.105, the Contractor must fully disclose all information by entities related to business transactions. The Contractor must submit, within thirty-five (35) calendar days of the date of a request by the Secretary of the Department of Health and Human Services (HHS) or the Division, full and complete information about: a. The ownership of any Subcontractor with whom the Contractor has had business transactions totaling more than $25,000 during the twelve (12) month period ending on the date of the request; and b. Any significant business transactions between the Contractor and any wholly owned supplier, or between the Contractor and any Subcontractor, during the five (5) year period ending on the date of the request. Any disclosing entity that is subject to periodic survey and certification of its compliance with Medicaid standards must supply the information listed above to any State survey agency at the time the Contractor is surveyed. A managed care entity that is not subject to periodic survey and certification and has not supplied the information specified above to the Secretary within the prior twelve (12)-month period must submit the information to the Division before entering into a contract or agreement to participate in the program.

Ownership and Financial Disclosure. ‌ The Contractor shall comply with § 1318 of the Health Maintenance Organization Act (42 U.S.C. § 300e, et seq.), as amended, which requires the disclosure and justification of certain transactions between the Contractor and any related party, referred to as a Party in Interest. Transactions reported under 42 U.S.C. § 300e, et seq., as amended, must be justified as to their reasonableness and potential adverse impact on fiscal soundness. The Contractor is required to obtain all relevant ownership and financial disclosure information from their own employees, Subcontractors, and network Providers. The Contractor shall not knowingly have persons, managing employee, agent or their affiliate who is debarred, suspended, or otherwise excluded from participating in Federal procurement activities as a director, officer, partner, or person with a beneficial ownership interest of more than five percent (5%) of the Contractor's equity or have an employment, consulting or other agreement with a person who has been convicted for the provision of items and services that are significant and material to the Contractor's obligations under this Contract, in accordance with 42 C.F.R. § 438.610. 1. Disclosures The Contractor must disclose all information in accordance with 42 C.F.R. § §455.104(b) that shall include: a. The name and address of any person (individual or corporation) with an ownership or control interest in the Contractor. The address for corporate entities must include as applicable primary business address, every business location, and P.O. Box address; Date of birth and Social Security Number (in the case of an individual); Other tax identification number (in the case of a corporation) with an ownership or control interest in the Contractor or in any Subcontractor in which the Contractor (or Division’s Agent or managed care entity) has a five percent (5%) or more interest; Whether the person (individual or corporation) with an ownership or control interest in the Contractor is related to another person with ownership or control interest in the Contractor as a spouse, parent, child, or sibling; or whether the person (individual or corporation) with an ownership or control interest in any Subcontractor in which the Contractor has a five percent (5%) or more interest is related to another person with ownership or control interest in the disclosing entity as a spouse, parent, child, or sibling; The name of any other disclosing entity (or the Division’s fiscal agent or other managed care entity) in which an owner of the Contractor has an ownership or control interest; and The name, address, date of birth, and Social Security Number of any managing employee of the Contractor. In accordance with 42 C.F.R. § §455.104(c), disclosures from the Contractor are due at any of the following times: a. Upon the Contractor submitting a Proposal in accordance with the State’s procurement process; b. Annually, including upon execution, renewal, or extension of the Contract with the State; and c. Within thirty-five (35) calendar days after any change in ownership of the Contractor. In accordance with 42 C.F.R. § 455.104(d), all disclosures must be provided to the Division, the State’s designated Medicaid agency. In accordance with 42 C.F.R. § 455.104(e), Federal financial participation is not available in payments made to a Contractor that fails to disclose ownership or control information as required by said section. As described in 42 C.F.R. § 438.808, FFP is also not available for any amounts paid to Contractor that could be excluded from participation in Medicare or Medicaid for any of the following reasons: a. Contractor is controlled by a sanctioned individual; b. Contractor has a contractual relationship that provides for the administration, management or provision of medical services, or the establishment of policies, or the provision of operational support for the administration, management or provision of medical services, either directly or indirectly, with an individual convicted of certain crimes as described in section 1128(b)(8)(B) of the Act; or c. Contractor employs or contracts, directly or indirectly, for the furnishing of health care, utilization review, medical social work, or administrative services, with one of the following: (a) any individual or entity excluded from participation in Federal health care programs.

Ownership and Financial Disclosure. ‌ The Contractor shall comply with § 1318 of the Health Maintenance Organization Act (42 U.S.C. § 300e, et seq.), as amended, which requires the disclosure and justification of certain transactions between the Contractor and any related party, referred to as a Party in Interest. Transactions reported under 42 U.S.C. § 300e, et seq., as amended, must be justified as to their reasonableness and potential adverse impact on fiscal soundness. The Contractor is required to obtain all relevant ownership and financial disclosure information from their own employees, Subcontractors, and network Providers. The Contractor shall not knowingly have persons, managing employee, agent or their affiliate who is debarred, suspended, or otherwise excluded from participating in Federal procurement activities as a director, officer, partner, or person with a beneficial ownership interest of more than five percent (5%) of the Contractor's equity or have an employment, consulting or other agreement with a person who has been convicted for the provision of items and services that are significant and material to the Contractor's obligations under this Contract, in accordance with 42 C.F.R. C.F.R § 438.610. 1. Disclosures The Contractor must disclose all information in accordance with 42 C.F.R. C.F.R § 455.104(b) that shall include: a. The name and address of any person (individual or corporation) with an ownership or control interest in the Contractor. The address for corporate entities must include as applicable primary business address, every business location, and P.O. Box address; ; b. Date of birth and Social Security Number (in the case of an individual); ; c. Other tax identification number (in the case of a corporation) with an ownership or control interest in the Contractor or in any Subcontractor in which the Contractor (or Division’s Agent or managed care entity) has a five percent (5%) or more interest; ; d. Whether the person (individual or corporation) with an ownership or control interest in the Contractor is related to another person with ownership or control interest in the Contractor as a spouse, parent, child, or sibling; or whether the person (individual or corporation) with an ownership or control interest in any Subcontractor in which the Contractor has a five percent (5%) or more interest is related to another person with ownership or control interest in the disclosing entity as a spouse, parent, child, or sibling; ; e. The name of any other disclosing entity (or the Division’s fiscal agent or other managed care entity) in which an owner of the Contractor has an ownership or control interest; and and f. The name, address, date of birth, and Social Security Number of any managing employee of the Contractor. In accordance with 42 C.F.R. § 455.104(c), disclosures from the Contractor are due at any of the following times: a. Upon the Contractor submitting a Proposal in accordance with the State’s procurement process; b. Annually, including upon execution, renewal, or extension of the Contract with the State; and c. Within thirty-five (35) calendar days after any change in ownership of the Contractor. In accordance with 42 C.F.R. § 455.104(d), all disclosures must be provided to the Division, the State’s designated Medicaid agency. In accordance with 42 C.F.R. § 455.104(e), Federal financial participation is not available in payments made to a Contractor that fails to disclose ownership or control information as required by said section. As described in 42 C.F.R. § 438.808, FFP is also not available for any amounts paid to Contractor that could be excluded from participation in Medicare or Medicaid for any of the following reasons: a. Contractor is controlled by a sanctioned individual; b. Contractor has a contractual relationship that provides for the administration, management or provision of medical services, or the establishment of policies, or the provision of operational support for the administration, management or provision of medical services, either directly or indirectly, with an individual convicted of certain crimes as described in section 1128(b)(8)(B) of the Act; or c. Contractor employs or contracts, directly or indirectly, for the furnishing of health care, utilization review, medical social work, or administrative services, with one of the following: (a) any individual or entity excluded from participation in Federal health care programs.

Ownership and Financial Disclosure. ‌ The Contractor shall comply with all provisions of 42 C.F.R. § 457.935 and § 1318 of the Health Maintenance Organization Act (42 U.S.C. § 300e, et seq.), as amended, which requires the disclosure and justification of certain transactions between the Contractor and any related party, referred to as a Party in Interest. Transactions reported under 42 U.S.C. § 300e, et seq., as amended, must be justified as to their reasonableness and potential adverse impact on fiscal soundness. The Contractor is required to obtain all relevant ownership and financial disclosure information from their own employees, Subcontractors, and network Providersproviders. The Contractor shall not knowingly have personsa person, managing employee, agent agent, or their affiliate who is debarred, suspended, or otherwise excluded from participating in Federal procurement activities as a director, officer, partner, shareholder, or person with a beneficial ownership interest of more than five percent (5%) of the Contractor's equity or have an employment, consulting consulting, or other agreement with a person who has been convicted for the provision of items and services that are significant and material to the Contractor's obligations under this Contract, in accordance with 42 C.F.R. C.F.R §§ 438.610438.610 and 457.935. 1. Disclosures The Contractor must disclose all information in In accordance with 42 C.F.R. C.F.R § 455.104(b) that Contractor shall includedisclose the following: a. The name and address of any person (individual or corporation) corporation with an ownership or control interest in the Contractor. The address for corporate entities must include as an applicable primary business address, every business location, and P.O. Box address; ; b. Date of birth and Social Security Number (in the case of an individual); ; c. Other tax identification number (in the case of a corporation) with an ownership or control interest in the Contractor or in any Subcontractor in which the Contractor (or Division’s Agent or managed care entity) has a five percent (5%) or more interest; ; d. Whether the person (individual or corporation) corporation with an ownership or control interest in the Contractor is related to another person with ownership or control interest in the Contractor as a spouse, parent, child, or sibling; or whether the person (individual or corporation) corporation with an ownership or control interest in any Subcontractor in which the Contractor has a five percent (5%) or more interest is related to another person with ownership or control interest in the disclosing entity as a spouse, parent, child, or sibling; ; e. The name of any other disclosing entity (or the DivisionDOM’s fiscal agent or other managed care entity) in which an owner of the Contractor has an ownership or control interest; and and f. The name, address, date of birth, and Social Security Number of any managing employee of the Contractor. In accordance with 42 C.F.R. § 455.104(c), disclosures from the Contractor are due at any of the following times: a. Upon the Contractor submitting a Proposal in accordance with the State’s procurement process; b. Annually, including upon execution, renewal, or extension of the Contract with the State; and c. Within thirty-five (35) calendar days after any change in ownership of the Contractor. In accordance with 42 C.F.R. § 455.104(d), all disclosures must be provided to the DivisionDOM, the State’s designated Medicaid agency. In accordance with 42 C.F.R. § 455.104(e), Federal financial participation is not available in payments made to a Contractor that fails to disclose ownership or control information as required by said section. As In accordance with 42 C.F.R. § 455.105, Contractor must fully disclose all information related to business transactions. Contractor must submit, within thirty- five (35) calendar days of the date on a request by the Secretary of the Department of Health and Human Services (HHS) or DOM, full and complete information about: a. The ownership of any Subcontractor with whom Contractor has had business transactions totaling more than twenty-five thousand dollars and zero cents ($25,000.00) during the twelve (12)-month period ending on the date of the request; and b. Any significant business transactions between Contractor and any wholly owned supplier, or between Contractor and any Subcontractor, during the five (5)-year period ending on the date of the request. In accordance with 42 C.F.R. § 455.106(b), DOM must notify the Inspector General of the Department of any disclosures under 42 C.F.R. § 455.106(a) within twenty (20) business days from the date it receives the information. DOM must also promptly notify the Inspector General of HHS of any action it takes on Contractor’s contractual agreement and participation in the program. In accordance with 42 C.F.R. § 455.106(c), DOM may refuse to enter into or renew an agreement with Contractor if any person who has an ownership or control interest in Contractor, or who is an agent or managing employee of Contractor, has been convicted of a criminal offense related to that person’s involvement in any program established under Medicare, Medicaid or the Title XX Services Program since the inception of those programs. Further, DOM may refuse to enter into or may terminate Contractor’s agreement if it determines that Contractor did not fully and accurately make any disclosure required under 42 C.F.R. § 455.106(a). At the time of Contract execution, renewal, extension, and as described in Section I.H, Notice of Legal Action, Contractor must submit information for any person who has ownership and control interest of each contracted provider entity or who is an agent or managing employee of the provider (as defined by 42 C.F.R. § 455.101) and who has been convicted of a criminal offense related to that person's involvement in any program under Medicare, Medicaid, or the title XX services program since the inception of those programs, as required in 42 C.F.R. § 438.808, FFP is 455.106. Contractor shall also make this information available to DOM upon request within thirty-five (35) calendar days. DOM may refuse to enter into or may terminate this agreement if it determines that Contractor did not available for fully and accurately make any amounts paid to disclosure required under 42 C.F.R. § 455.106. Contractor that could be excluded from participation shall comply with Federal regulations contained in Medicare 42 C.F.R. § 455.104 and § 455.106 which also require disclosure of all entities with which a Medicaid provider has an ownership or Medicaid for any control relationship. Contractor shall provide information concerning each Person with Ownership or Control. Contractor shall comply with Federal regulations contained in 42 C.F.R. § 455.436 which require confirmation of the following reasons: a. Contractor is controlled by a sanctioned individual; b. Contractor has a contractual relationship that provides for identity and determination of the administration, management or provision exclusion status of medical services, or the establishment of policies, or the provision of operational support for the administration, management or provision of medical services, either directly or indirectly, providers and any person with an individual convicted ownership or control interest or who is an agent of certain crimes as described the managing employee of the provider through routine checks of Federal databases. Contractor shall advise DOM, in section 1128(b)(8)(Bwriting, within five (5) business days of any organizational change or major decision affecting its business in Mississippi or other states. This includes, but is not limited to, sale of existing business to other entities or a complete exit from the State of Mississippi to another state or jurisdiction. 2. Change of Ownership A change of ownership of Contractor includes, but is not limited to inter vivo gifts, purchases, transfers, lease arrangements, case and/or stock transactions or other comparable arrangements whenever the person or entity acquires a majority interest (50.1%) of Contractor. The change of ownership must be an arm's length transaction consummated in the Act; or c. open market between non-related parties in a normal buyer- seller relationship. Contractor employs or contracts, directly or indirectly, for the furnishing of health care, utilization review, medical social work, or administrative services, must comply with one all laws of the following: State of Mississippi and the Mississippi Department of Insurance requirements regarding change of ownership of Contractor. Should Contractor undergo a change of direct ownership, Contractor must notify DOM in writing prior to the effective date of the transaction. The new owner must complete a new Contract with DOM and Members will be notified. Any change of ownership does not relieve the previous owner of liability under the previous Contract. If Contractor’s parent company is publicly traded, changes in beneficial ownership must be reported to DOM in writing within sixty (a60) any individual or entity excluded from participation in Federal health care programscalendar days of the end of each quarter.