27 CFR § 31.102
Addition of partners or incorporation of partnership
April 24, 2020
Where a number of persons who have filed a registration under this part as partners admit one or more new members to the partnership or form a corporation (a separate legal entity) to take over the business, the new partnership or corporation must register as a new dealer before commencing business.
(26 U.S.C. 5121, 5122, 5124)