Since each NPAworldwide member firm is a part-owner of the network, there are some pretty specific rules about the ownership of member firms:
- Any change of ownership must be reported to NPAworldwide Headquarters, in writing within 30 days of such change.
- NPAmembership is not transferable by any means - so if you sell your firm to a new owner(s), NPAmembership is not automatically transferred to the new owner(s).
- If you have a change of ownership in your business of more than 50%, that is considered a transfer of ownership.
Remember, only owners or officers (or their authorized representatives) can vote during the Annual Meeting, so it's important to have accurate ownership details on file.
If you'd like to review the ownership details for your firm, please contact Liz Carey, lcarey@npaworldwide.com or +1 616 871 3321.