All licensees shall report to the Commissioner in writing within 30 days any changes in ownership of the licensed business, provided that the corporate licensees shall report internal changes by officers and stockholders owning in the aggregate more than 5% of the stock of such corporation. With any change in ownership, the liquor license shall expire and any new owners must apply for a new license in compliance with this chapter and the Liquor Control Act.
(Res. passed 6-20-2017)