[Code of Federal Regulations]
[Title 47, Volume 4]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 47CFR73.3615]

[Page 392-394]
 
                       TITLE 47--TELECOMMUNICATION
 
                         COMMISSION (CONTINUED)
 
PART 73_RADIO BROADCAST SERVICES--Table of Contents
 
          Subpart H_Rules Applicable to All Broadcast Stations
 
Sec.  73.3615  Ownership reports.

    (a) With the exception of sole proprietorships and partnerships 
composed entirely of natural persons, each licensee of a commercial AM, 
FM, or TV broadcast station shall file an Ownership Report on FCC Form 
323 when filing the station's license renewal application and every two 
years thereafter on the anniversary of the date that its renewal 
application is required to be filed. Licensees owning multiple stations 
with different anniversary dates need file only one Report every two 
years on the anniversary of their choice, provided that their Reports 
are not more than two years apart. A licensee with a current and 
unamended Report on file at the Commission may certify that it has 
reviewed its current Report and that it is accurate, in lieu of filing a 
new Report. Ownership Reports shall provide the following information as 
of a date not more than 60 days prior to the filing of the Report:
    (1) In the case of an individual, the name, race or ethnicity, and 
gender of such individual;
    (2) In the case of a partnership, the name, race or ethnicity, and 
gender of each partner and the interest of each partner. Except as 
specifically noted below, the names of limited partners shall be 
reported. A limited partner need not be reported, regardless of the 
extent of its ownership, if the limted partner is not materially 
involved, directly or indirectly, in the management or operation of the 
licensee and the licensee so certifies.
    (i) Any change in partners or in their rights will require prior 
consent of the FCC upon an application for consent to assignment of 
license or permit. If such change involves less than a controlling 
interest, the application for FCC consent to such changes may be made 
upon FCC Form 316.
    (ii) [Reserved]
    (3) In the case of a corporation, association, trust, estate or 
receivership, the data applicable to each:
    (i)(A) The name, residence, citizenship, race or ethnicity, gender, 
and stockholding of every officer, director, trustee, executor, 
administrator, receiver and member of an association, and any 
stockholder which holds stock accounting for 5 percent or more of the 
votes of the corporation, except that an investment company, insurance 
company, or bank trust department need be reported only if it holds 
stock amounting to 10 percent or more of the votes, provided that the 
licensee certifies that such entity has made no attempt to influence, 
directly or indirectly, the management or operation of the licensee, and 
that there is no representation on the licensee's board or among its 
officers by any person professionally or otherwise associated with the 
entity.
    (B) A licensee shall report any separate interests known to the 
licensee to be held ultimately by the same individual or entity, whether 
those interests are held in custodial accounts, by individual holding 
corporations or otherwise, if, when aggregated:
    (1) The sum of all interests except those held by or through 
``passive investors'' is equal to or exceeds 5 percent; or
    (2) The sum of all interests held by or through ``passive 
investors'' is equal to or exceeds 10 percent; or
    (3) The sum of the interests computed under paragraph 
(a)(3)(i)(B)(1) of this section plus the sum of the interests computed 
under paragraph (a)(3)(i)(B)(2) of this section is equal to or exceeds 
10 percent.
    (C) If the majority of the voting stock of a corporate licensee is 
held by a single individual or entity, no other stockholding need be 
reported for that licensee;

[[Page 393]]

    (ii) Full information as to family relationship or business 
association between two or more officials and/or stockholders, trustees, 
executors, administrators, receivers, and members of any association;
    (iii) Capitalization with a description of the classes and voting 
power of stock authorized by the corporate charter or other appropriate 
legal instrument and the number of shares of each class issued and 
outstanding; and
    (iv) Full information with respect to the interest and identity of 
any person having any direct, indirect, fiduciary, or beneficial 
interest in the licensee or in its stock accounting for 5% or more of 
its votes. For example:
    (A) Where A is the trustee of stock held for beneficiary B, A shall 
be reported if A votes the stock or has the sole or shared power to 
dispose of the stock; B or any other party shall be reported if B or 
such party votes the stock or has sole power to dispose of the stock or 
has the power to revoke the trust or replace the trustee at will;
    (B) Where X is not a natural person and has attributable ownership 
interest in the licensee under Sec.  73.3555 of the rules, regardless of 
its position in the vertical ownership chain, an Ownership Report shall 
be filed for X which, except as specifically noted below, must contain 
the same information as required of a licensee. If X has a voting 
stockholder interest in the licensee, only those voting interests of X 
that are cognizable after application of the ``multiplier'' described in 
note 2(c) of Sec.  73.3555 of the rules, if applicable, shall be 
reported. If X is a corporation, whether or not its interest in the 
licensee is by virtue of its ownership of voting stock, the officers and 
directors shall be reported. With respect to those officers and 
directors whose duties and responsibilities are wholly unrelated to the 
licensee, and who wish to be relieved of attribution in the licensee, 
the name, title and duties of these officers and directors, with 
statements properly documenting that their duties do not involve the 
licensee, shall be reported.
    (4) In the case of all licensees:
    (i) A list of all contracts still in effect required to be filed 
with the FCC by Sec.  73.3613 showing the date of execution and 
expiration of each contract; and
    (ii) Any interest which the licensee may have in any other broadcast 
station.
    (b) Except as specifically noted below, each permittee of a 
commercial AM, FM or TV broadcast station shall file an Ownership Report 
on FCC Form 323 (1) within 30 days of the date of grant by the FCC of an 
application for original construction permit and (2) on the date that it 
applies for a station license. The Ownership Report of the permittee 
shall give the information required by the applicable portions of 
paragraph (a) of this section. A permittee with a current and unamended 
Report on file at the Commission may certify that it has reviewed its 
current Report and it is accurate, in lieu of filing a new Report.
    (c) Before any change is made in the organization, capitalization, 
officers, directors, or stockholders of a corporation other than 
licensee or permittee, which results in a change in the control of the 
licensee or permittee, prior FCC consent must be received under Sec.  
73.3540. A transfer of control takes place when an individual or group 
in privity, gains or loses affirmative or negative (50%) control. See 
instructions on FCC Form 323 (Ownership Report). Each permittee or 
licensee of a commercial AM, FM or TV Broadcast station shall file an 
Ownership Report on FCC Form 323 within 30 days of consummating 
authorized assignments or transfers of permits and licenses. The 
Ownership Report of the permittee or licensee shall give the information 
required by the applicable portions of paragraph (a) of this section.
    (d) Each licensee of a noncommercial educational AM, FM or TV 
broadcast station shall file an Ownership Report on FCC Form 323-E when 
filing the station's license renewal application and every two years 
thereafter on the anniversary of the date that its renewal application 
is required to be filed. Licensees owning more than one noncommercial 
educational AM, FM or TV broadcast station with different anniversary 
dates need file only one Report every two years on the anniversary of 
their choice, provided that their Reports are

[[Page 394]]

not more than two years apart. A licensee with a current and unamended 
Report on file at the Commission may certify that it has reviewed its 
current Report and that it is accurate, in lieu of filing a new Report. 
Ownership reports shall give the following information as of a date not 
more than 60 days prior to the filing of the Ownership Report:
    (1) The following information as to all officers, members of 
governing board, and holders of 1% or more ownership interest (if any): 
Name, residence, office held, citizenship, principal profession or 
occupation, and by whom appointed or elected.
    (2) Full information with respect to the interest and identity of 
any individual, organization, corporation, association, or any other 
entity which has direct or indirect control over the licensee or 
permittee.
    (3) A list of all contracts still in effect required by Sec.  
73.3613 to be filed with the FCC, showing the date of execution and 
expiration of each contract.
    (4) Any interest which the licensee or permittee or any of its 
officers, members of the governing board, and holders of 1% or more 
ownership interest (if any) held in any other broadcast station.
    (e) Each permittee of a noncommercial educational AM, FM or TV 
broadcast station shall file an Ownership Report on FCC Form 323-E:
    (1) Within 30 days of the date of grant by the FCC of an application 
for original construction permit and;
    (2) On the date that it applies for a station license. The Ownership 
Report of the permittee shall give the information required by the 
applicable form. A permittee with a current and unamended Report on file 
at the Commission may certify that it has reviewed its current Report 
and it is accurate, in lieu of filing a new Report.
    (f) Each permittee or licensee of a noncommercial educational AM, FM 
or TV Broadcast station shall file an Ownership Report on FCC Form 323-E 
within 30 days of consummating authorized assignments or transfers of 
permits and licenses. The Ownership Report of the noncommercial 
educational permittee or licensee shall give the information required by 
the applicable form.
    (g) A copy of all ownership and supplemental ownership reports and 
related material filed pursuant to this section shall be maintained and 
made available for public inspection locally as required by Sec. Sec.  
73.3526 and 73.3527.

[44 FR 38513, July 2, 1979, as amended at 49 FR 19498, May 8, 1984; 50 
FR 27450, July 3, 1985; 50 FR 40016, Oct. 1, 1985; 53 FR 2499, Jan. 28, 
1988; 53 FR 5684, Feb. 25, 1988; 63 FR 70050, Dec. 18, 1998; 66 FR 9973, 
Feb. 13, 2001; 66 FR 12897, Mar. 1, 2001]