(1) A D.B.A. may transfer ownership only while the D.B.A. is actively registered with the division as a D.B.A.
(2) To transfer ownership of a D.B.A., the D.B.A. shall file a letter of transfer with the division that states:
(a) the D.B.A. name;
(b) the true name and address of each current owner of the D.B.A.;
(c) the true name and address of each new owner of the D.B.A.; and
(d) the principal address of the D.B.A.'s place of business.
(3) Except as otherwise provided in Section 16-1a-302, each current owner and each new owner shall sign the letter of transfer described in Subsection (2).