What action must be taken to transfer a corporation's license to another corporation?

To transfer a corporation's license to another corporation, it is essential to notify the director and pay a fee. Licensing regulations are in place to ensure that the transfer process is officially acknowledged and documented by the relevant regulatory authority. Notifying the director serves as a formal communication regarding the change, allowing for the appropriate oversight and record-keeping associated with the license transfer. Additionally, paying a fee is a common requirement in many regulatory frameworks as it helps cover the administrative costs associated with processing the transfer.

The other options lack the necessary steps required in the licensing transfer process. Simply surrendering the current license does not complete the transfer; it only relinquishes the rights associated with that license. Completing a new license application is not always required unless the new corporation seeks to establish a new license rather than merely transferring an existing one. Submitting a statement of termination would also not suffice, as this action may indicate the dissolution of the current entity rather than facilitating the transfer of its license to another entity.