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2019 Utah Code
Title 32B - Alcoholic Beverage Control Act
Chapter 5 - Retail License Act
Part 3 - Retail Licensee Operational Requirements
Section 310 - Notifying department of change in ownership -- Inventory transfers -- Interim alcoholic beverage management agreements.
Universal Citation:
UT Code § 32B-5-310 (2019)
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Effective 5/14/2019
32B-5-310. Notifying department of change in ownership -- Inventory transfers -- Interim alcoholic beverage management agreements.
Amended by Chapter 403, 2019 General Session
32B-5-310. Notifying department of change in ownership -- Inventory transfers -- Interim alcoholic beverage management agreements.
- (1) The commission may suspend or revoke a retail license if the retail licensee does not immediately notify the department of a change in:
- (a) ownership of the retail license;
- (b) the entity that manages the retail licensee or a premises licensed under this chapter;
- (c) for a corporate owner, the:
- (i) corporate officers or directors of the retail licensee; or
- (ii) shareholders holding at least 20% of the total issued and outstanding stock of the corporation; or
- (d) for a limited liability company:
- (i) managers of the limited liability company; or
- (ii) members owning at least 20% of the limited liability company.
- (2) Notwithstanding any other provision of this title, in connection with an event described in Section 32B-8a-202 or an asset sale of a retail licensee, the parties to the transaction may enter into an inventory transfer agreement.
- (3) A retail licensee may enter into an interim alcoholic beverage management agreement that provides:
- (a) all proceeds, less cost of goods sold, from the sale of alcohol shall accrue to the current retail licensee; and
- (b) for the duration of the agreement, the current retail licensee:
- (i) shall comply with the requirements of this title that are applicable to the retail license; and
- (ii) in accordance with this title, is subject to disciplinary action by the commission for any violation of this title.
- (4) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the department may make rules governing the requirements of:
- (a) an inventory transfer agreement; and
- (b) an interim alcoholic beverage management agreement.
Amended by Chapter 403, 2019 General Session
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