What minimum ownership interest in an organization must be reported to the Board of Pharmacy when applying for a non-resident pharmacy permit?

In South Carolina, when applying for a non-resident pharmacy permit, any individual or entity that holds a minimum ownership interest of 10% or more in the pharmacy must be reported to the Board of Pharmacy. This requirement is in place to ensure transparency and accountability regarding the individuals or entities that have a significant financial interest in the operations of the pharmacy. The reporting of such ownership interests allows the Board to conduct proper oversight and maintain the integrity of pharmacy practice within the state.

Having a threshold set at 10% serves as a guideline for determining which stakeholders are influential enough to warrant disclosure. This information helps the regulatory body assess potential conflicts of interest and ensures that all stakeholders comply with professional and ethical standards in pharmacy practice. The 10% threshold reflects a balance between regulatory oversight and practical disclosure requirements.