Section 201 – Transferability of an alcohol license.
Effective 6/1/2022 32B-18-201. Transferability of an alcohol license. (1) An alcohol license: (a) is not ascribed any value in the sale or transfer of a business entity or the business entity’s assets; (b) is neither tangible nor intangible property to the holder of the license; and (c) is completely separate from other property of an […]
Section 202 – Effect of change of ownership of business entity.
Effective 6/1/2022 32B-18-202. Effect of change of ownership of business entity. (1) (a) When the ownership of 51% or more of the shares of stock of a corporation is restructured to include one or more persons who did not hold the ownership of 51% of those shares of stock on the day on which an […]