A. Partnership, Change In Ownership: When a license has been issued to a partnership and a change of ownership occurs, resulting in the creation of a partnership interest in a person who is not eligible to receive a liquor license, such license shall thereby be terminated.
B. Corporation, Change In Ownership: When a license has been issued to a corporation or limited liability company and a change takes place as to officers, or directors, or of shareholders holding more than five percent (5%) of the stock, or in a manager resulting in the holding of office, the corporation or LLC has thirty (30) days to file a new liquor license application before the existing liquor license will automatically terminate. A completed liquor license application on file with the LLCC will stay the expiration of the existing license until such time as the LLCC either approves or denies the new liquor license application. However, if a change takes place in the transfer of shares to one who is not eligible for a license or if a new liquor license application is not filed within thirty (30) days of any such change, such license shall thereby terminate.
C. Ineligible Individual: When a license has been issued to an individual who becomes ineligible to receive a license, the license theretofore issued to such individual shall thereby terminate.
D. Transfer Of Ownership: In the case of a license issued to a corporation, limited liability company, or to a partnership, upon the transfer of more than thirty percent (30%) of the ownership interest of the original stockholders, or of the original members of a partnership, such transfer, or transfers, shall require the issuance of a new license, with the payment of the required new license fee. The corporation, LLC, or partnership will have thirty (30) days to file a new liquor license application before the existing liquor license will automatically terminate. A completed liquor license application on file with the LLCC will stay the expiration of the existing license until such times as the LLCC either approves or denies the new liquor license application.
E. Closure Of Business: Any licensee who ceases to do business, or who closes his place of business for a period in excess of forty five (45) days shall be required, pursuant to notice of hearing served upon him, to show cause why the LLCC should not declare the license for such place of business terminated. (Ord. 95-433, 12-5-1995, eff. 4-30-1996; amd. Ord. 2023-1131, 6-20-2023)