(A) Since a number of licenses issued with the city are in the name of a corporation, it is necessary that stock ownership changes in such corporation be reported to the City Administrator. The City Administrator can, therefore, investigate the person to whom the stock is transferred in order to ascertain whether that person is precluded by statute from holding an interest in an alcoholic beverage license.
(B) As used herein, the word "change" is construed to include any change in directors or officers of the corporation, or a change in ownership of stock whereby any person secure 10% of the outstanding stock. Transfer of more than 10% of the total stock shall require a new license.
(C) (1) The following information will be required concerning any new director, officer, or person who secures any interest in an alcoholic beverage license:
(a) Name and address;
(b) Nature of interest;
(c) Whether or not a citizen of the United States;
(d) Date of birth;
(e) Date residence was established in Kentucky, if a resident of Kentucky. If Ashland resident, indicate when residence established;
(f) Whether or not he has any interest in any other license or corporation holding a license under this act; and
(g) Extent of stock ownership.
(2) This information shall be filed with the City Administrator as an amendment of the application pursuant to which the license was granted and shall be provided to the City Administrator within 30 days of the effective date of the reflected change.
(Ord. 8, 2021, passed 1-28-21)