01 NCAC 05B .1507. CHANGE IN CORPORATE STRUCTURE

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In cases where contractors are involved in corporate consolidations, acquisitions or mergers, the agency which issued the solicitation document resulting in the contract may negotiate agreements for the transfer of contractual obligations and the continuance of contracts within the framework of the new corporate structures but with the understanding that the state's contracts are not instruments for sale and shall not be assigned.

History Note: Authority G.S. 143-53;

Eff. February 1, 1976;

Readopted Eff. February 27, 1979;

Amended Eff. April 1, 1999; February 1, 1996.

                    
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