35-3-15. Acquisition of stock and equipment from licensee forced out of business by acquisition of municipal license.
43 words·~1 min read·
/sd/title-35/chapter-35-3/35-3-15A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The municipality shall acquire the stock, equipment, and fixtures from any licensee whose license has been terminated by reason of the municipal election by which the municipality was authorized to engage in such business, such acquisition to be by purchase, condemnation, or arbitration.