Utah § 32B-18-202 Effect of change of ownership of business entity.

Utah Statutes

§ 32B-18-202 — Effect of change of ownership of business entity.

Utah·Title 32B Alcoholic Beverage Control Act·Ch. 32B-18 Change of Alcohol License or Location Act·Part 32B-18-2 Alcohol License Changes of Ownership

(1)(1)(a) When the ownership of 51% or more of the shares of stock of a corporation is restructured to include one or more persons who did not hold the ownership of 51% of those shares of stock on the day on which an alcohol license is issued to the corporation, the corporation shall comply with this chapter to reflect the restructuring.

(1)(b) When there is a new general partner or when the ownership of 51% or more of the capital or profits of a limited partnership is restructured to include one or more persons as general or limited partners and who did not hold ownership of 51% or more of the capital or profits of the limited partnership on the day on which an alcohol license is issued to the limited partnership, the limited partnership shall comply with this chapter to reflect the rest

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(1) (1)(a) When the ownership of 51% or more of the shares of stock of a corporation is restructured to include one or more persons who did not hold the ownership of 51% of those shares of stock on the day on which an alcohol license is issued to the corporation, the corporation shall comply with this chapter to reflect the restructuring.
(1)(b) When there is a new general partner or when the ownership of 51% or more of the capital or profits of a limited partnership is restructured to include one or more persons as general or limited partners and who did not hold ownership of 51% or more of the capital or profits of the limited partnership on the day on which an alcohol license is issued to the limited partnership, the limited partnership shall comply with this chapter to reflect the restructuring.
(1)(c) When the ownership of 51% or more of the interests in a limited liability company is restructured to include one or more persons as members who did not hold ownership of 51% or more of the interests in the limited liability company on the day on which an alcohol license is issued to the limited liability company, the limited liability company shall comply with this chapter to reflect the restructuring.
(2) A business entity shall comply with this section within 60 days after the day on which a restructuring of the business entity becomes effective.

Utah § 32B-18-202 (Effect of change of ownership of business entity.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.