(a) The license of a massage school may not be sold or transferred to another person or owner.(b) If a massage school changes ownership, the new owner must apply for a new massage school license within thirty (30) days before the change in ownership. A massage school may continue to operate pending approval by the department. The new owner must submit a massage school application for a new license meeting all requirements as defined in §117.50.(c) A change of ownership may include the following:(1) For a sole proprietorship, the licensee no longer owns the massage school.(2) For a partnership or limited partnership, the partnership is dissolved.(3) For a corporation or limited liability company, if sold to another person or entity. A change of ownership does not include corporate officer or stockholder restructuring.(4) The addition or deletion of any person defined as an owner.(5) Legal incompetence or death.(d) The new owner of a massage school shall accept responsibility for all refund liabilities of the previous owner.