243.640 Continuance in business by representative of defunct licensee.

315 words·~1 min read·/ky/chapter-243/243-640

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)If a corporation, limited liability company, limited partnership, partnership, or

other business entity recognized by law that holds a license is dissolved, or if a

receiver, assignee for the benefit of creditors, or a guardian or conservator for

the property of a licensee is appointed during the time for which a license was

approved, or if a licensee dies during the time for which the license was issued

and a personal representative is appointed for the licensee's estate, that

corporation, limited liability company, limited partnership, partnership, other

business entity recognized by law, receiver or assignee, or the personal

representative of the estate of the deceased or individual adjudged to be

mentally disabled, may be permitted to continue the business upon the

licensed premises for the balance of the term for which the license was

effective, and any renewed license approved by the state administrator, with

the same rights and subject to the same restrictions and liabilities as if they had

been the original licensee.

(2)Before continuing the business the receiver, assignee, personal representative,

or committee shall file a statement with the state administrator or administrators

setting forth the facts and circumstances by which they have succeeded to the

rights of the original licensee. The administrator or administrators may, in the

exercise of the administrator's sound discretion, permit or refuse to permit the

continuance of the business.

(3)If the administrator permits the continuance of the business, the license shall

be submitted to the administrator, and the administrator shall write or stamp

across the face of the license the words: ".... is permitted to exercise the rights

and privileges of the original licensee as (assignee, receiver, personal

representative, or committee, as the case may be) of the original licensee for

the unexpired term of this license." The endorsement on the face of the license

shall be dated and signed by the person making it.