(a) A permit is transferable only if the permit holder and the new owner of the well notify the district by certified mail, return receipt requested, of:
(1) the transfer of ownership of the well; and
(2) the name and address of the new owner.
(b) On receipt of the information required under Subsection (a), the district shall issue an amended permit with the new owner of the well listed as the permit holder. The remaining terms of the permit remain unchanged.