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2020 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 3 - Petroleum Products and Alternative Fuels Tax Law
Part 6 - Bonding and Licenses
§ 67-3-615. License Transferability
Universal Citation: TN Code § 67-3-615 (2020)
No license is transferable to another person. For purposes of this part, a transfer of a majority interest in a business association, other than a publicly held corporation, including a corporation, partnership, trust, joint venture, limited liability company and any other business association, shall be deemed a transfer of any license held by such business association, and shall render the license void. Any substantial change in ownership of a business association, other than a publicly held business association, shall be reported to the department under rules prescribed by the department.
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