(a) A change in ownership of an operation occurs when:(1) The owner stated on the license no longer owns the operation;(2) The governing body stated on the license no longer has the ultimate authority and responsibility for the operation;(3) There is a change in the legal organizational structure of the operation; or(4) A business entity that is a permit holder is sold or otherwise acquired by one or more persons or business entities, except as set forth in subsection (b) of this section.(b) A change in ownership of an operation does not include the acquisition of the publicly traded stock of a business entity if the following conditions exist:(1) The business entity listed on the application and on the permit will continue to own and operate the operation following acquisition;(2) There will be no change in the operation's policy or procedure because of the transaction;(3) There will be no change in the staff who have contact with children in care because of the transaction; and(4) Any change in the day-to-day operations that might occur after the sale is in the ordinary course of business and not as a result of the stock transaction.