32B-7-405. Notifying department of change of ownership.
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/ut/title-32b/chapter-7/32b-7-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/9/2017
32B-7-405. Notifying department of change of ownership.
The commission may suspend or revoke an off-premise beer retailer state license if an off-premise beer retailer state licensee does not immediately notify the department of a change in:
(1)ownership of the licensee's business;
(2)for a corporate owner, a shareholder holding at least 20% of the total issued and outstanding stock of the corporation; or
(3)for a limited liability company, a member owning at least 20% of the limited liability company.
Enacted by Chapter 455 , 2017 General Session