A. Any proposed changes in ownership, management and/or who the general partners, joint venturers, members or managers in partnerships, joint ventures, officers, directors, and shareholders holding directly or beneficially more than five percent (5%) of the stock or ownership interest will be in a partnership, joint venture, limited partnership, limited liability company (LLC) and/or corporation or managers of premises licensed under this chapter, shall be reported in writing to the local liquor commissioner not less than thirty (30) days prior to the proposed change. All new personnel, including every partner, joint venturer, member and manager of an LLC; officers, directors and shareholders of a corporation (except as provided in subsection D of this section); managers of the licensed premises; liquor managers and sole proprietors, shall meet all the standards of this chapter and must otherwise qualify to hold a liquor license under section 3-3-4-1 of this chapter just as if such person was applying for a liquor license individually. All such changes in personnel shall be subject to review and approval by the local liquor commissioner.
B. When a license has been issued to a partnership or joint venture and a change of ownership occurs resulting in a change in the general partnership interest or joint venture interest of more than five percent (5%) in said partnership or joint venture, such license shall terminate and the partnership or joint venture shall surrender its existing license and reapply for a new license.
C. When a license has been issued to an LLC and a change takes place in the manager(s) and/or members who own more than a five percent (5%) interest in said LLC, such license shall terminate and the LLC shall surrender its existing license and reapply for a new license.
D. When a license has been issued to a corporation and a change takes place in the officers, directors and/or shareholders who own more than five percent (5%) of the stock of the corporation, resulting in the holding of office, director's position, or ownership interest, such license shall terminate and the corporation shall surrender its existing license and reapply for a new license. This section shall not be applicable to corporations whose stock is publicly traded on recognized national stock exchanges, provided the liquor manager designated pursuant to section 3-3-8 of this chapter meets, and continues to meet, all of the standards of this chapter and otherwise qualifies and remains qualified under section 3-3-4-1 of this chapter.
E. When a change takes place in any manager and/or liquor manager of a licensed premises, resulting in a manager and/or liquor manager who is not eligible to hold a liquor license and is, therefore not eligible to be a manager and/or liquor manager, such license shall terminate and the license surrendered, unless such manager is replaced by a manager who is qualified to hold a liquor license within ten (10) days of notice thereof to the licensee.
F. When a license has been issued to an individual who is no longer eligible and qualified for a license, such license shall terminate and the existing license shall be surrendered. (Ord. 95-127, 12-19-1995)