01 NCAC 05B .1507          CHANGE IN CORPORATE STRUCTURE

Contracts following an award to a Vendor are not instruments for sale and shall not be assigned. If a Vendor is involved in corporate consolidations, acquisitions or mergers, the Purchasing Agency may negotiate agreements for the transfer of contractual obligations and the continuance of Contracts if the Purchasing Agency determines that it is in the best interest of the State.

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

Eff. February 1, 1976;

Readopted Eff. February 27, 1979;

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

Readopted Eff. October 1, 2019.