Sec. 50. Transfer of ownership.
92 words·~1 min read·
/il/chapter-210/act-9/50A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 50. Transfer of ownership.
(a)Whenever ownership of an establishment is transferred from the person named in the license to any other person, the transferee must obtain a new probationary license. The transferee shall notify the Department of the transfer and apply for a new license at least 30 days prior to final transfer.
(b)The transferor shall notify the Department at least 30 days prior to final transfer. The transferor shall remain responsible for the operation of the establishment until such time as a license is issued to the transferee.