Any changes in partnerships, officers, directors, persons holding directly, beneficially or through any form of indirect or concealed ownership or control, more than five percent (5%) of the stock or ownership interest, or managers of establishments licensed under this Chapter, shall be reported in writing to the Local Liquor Control Commissioner within ten (10) days of the change. All new personnel shall meet all the standards of this Chapter and must otherwise qualify to hold a liquor license. All such changes in personnel shall be subject to review by the Local Liquor Control Commissioner.
Upon notification of any change in partnership, officers, directors, persons holding directly, beneficially or through any form of indirect or concealed ownership or control, more than five percent (5%) of the stock or ownership interest, or managers of establishments licensed under this Chapter, the Local Liquor Control
Commissioner shall, at his discretion, investigate and consider the changes in personnel, to determine whether they qualify to hold a liquor license. The licensee shall be required to pay to the Village, as and for the investigation, the sum of five hundred dollars ($500.00) for each change in partnerships, officers, directors and persons holding directly, beneficially or through any form of indirect or concealed ownership or control, more than five percent (5%) of the stock or ownership interest. A licensee shall further be required to pay the sum of one hundred fifty dollars ($150.00) for the investigation of each and every manager of establishments licensed under this Chapter when a change in personnel occurs.
Upon investigation and review by the Local Liquor Control Commissioner, any changes in personnel shall be subject to the following:
1. When a license has been issued to a partnership and a change of ownership occurs resulting in a partnership interest by one who is not eligible to hold a liquor license, said license shall terminate.
2. When a license has been issued to a corporation and a change takes place in officers, directors, persons holding directly, beneficially or through any form of indirect or concealed ownership or control, more than five percent (5%) of the stock or ownership interest, or managers of establishments, to one who is not eligible for a license, said license shall terminate.
3. When a license has been issued to an individual who is no longer eligible for a license, said license shall terminate. (Ord. 1496, 1-13-86)