Utah § 32B-11-609 Notifying department of change in ownership.

Utah Statutes

§ 32B-11-609 — Notifying department of change in ownership.

Utah·Title 32B Alcoholic Beverage Control Act·Ch. 32B-11 Manufacturing and Related Licenses Act·Part 32B-11-6 Local Industry Representative License Act

The commission may suspend, revoke, or deem forfeited a local industry representative license if a local industry representative licensee does not notify the department, within 60 days after the day on which the change occurs, of a change in:

(1)ownership of the business;

(2)for a corporate owner, the:

(2)(a) corporate officers or directors; or

(2)(b) shareholders holding at least 20% of the total issued and outstanding stock of the corporation; or

(3)for a limited liability company:

(3)(a) managers; or

(3)(b) members owning at least 20% of the limited liability company.

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The commission may suspend, revoke, or deem forfeited a local industry representative license if a local industry representative licensee does not notify the department, within 60 days after the day on which the change occurs, of a change in:
(1) ownership of the business;
(2) for a corporate owner, the:

(2)(a) corporate officers or directors; or
(2)(b) shareholders holding at least 20% of the total issued and outstanding stock of the corporation; or
(3) for a limited liability company:

(3)(a) managers; or
(3)(b) members owning at least 20% of the limited liability company.

Utah § 32B-11-609 (Notifying department of change in ownership.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.