Sec. 514.60  Termination of designation.
Designation shall be terminated when any of the circumstances set
forth in this section occur.
(a) Voluntary termination. A sponsor may voluntarily terminate
its designation by notifying the Agency of such intent. The
sponsor's designation shall terminate upon such notification.
Such sponsor may reapply for designation.
(b) Inactivity. A sponsor's designation shall automatically
terminate for inactivity if the sponsor fails to comply with the
minimum size or duration requirements, as specified in Sec. 514.8
(a) and (b), in any twelve month period. Such sponsor may reapply
for program designation.
(c) Failure to file annual reports. A sponsor's designation shall
automatically terminate if the sponsor fails to file annual
reports for two consecutive years. Such sponsor is eligible to
reapply for program designation upon the filing of the past due
annual reports.
(d) Change in ownership or control. An exchange visitor program
designation is not assignable or transferable. A major change in
ownership or control automatically terminates the designation.
However, the successor sponsor may apply to the Agency for
redesignation and may continue its exchange visitor activities
while approval of the application for redesignation is pending
before the Agency.
(1) With respect to a for-profit corporation, a major change in
ownership shall be deemed to have occurred when thirty-three and
one-third percent (33 1/3  percent) or more of its stock is sold
or otherwise transferred within a 12 month period;
(2) With respect to a not-for-profit corporation, a major change
of control shall be deemed to have occurred when fifty-one
percent or more of the board of trustees, or other like body
vested with its management, is replaced within a 12-month period.
(e) Loss of licensure or accreditation. A sponsor's designation
shall automatically terminate in the event that the sponsor fails
to remain in compliance with local, state, federal, or
professional requirements necessary to carry out the activity for
which it is designated, including loss of accreditation or
licensure.
(f) Failure to apply for redesignation. Prior to the conclusion
of its current designation period, the sponsor is required to
apply for redesignation pursuant to the terms and conditions of
Sec. 514.7. Failure to apply for redesignation will result in the
automatic termination of the sponsor's designation. If so
terminated, the former sponsor may apply for a new designation,
but the program activity will be suspended during the pendency of
the application.