(A) Definitions. The term
INTEREST as used in this section includes any pecuniary interest in the ownership, operation, management or profits of a retail liquor establishment, but does not include: bona fide loans; bona fide fixed sum rental agreements; bona fide open accounts or other obligations held with or without security arising out of the ordinary and regular course of business of selling or leasing merchandise, fixtures or supplies to such establishment; or an interest of 10% or less in any corporation holding a license. A person who receives monies from time to time directly or indirectly from a licensee, in the absence of a bona fide consideration therefor and excluding bona fide gifts or donations, shall be deemed to have a pecuniary interest in such retail license. In determining "bona fide" the reasonable value of the goods or things received as consideration for any payment by the licensee and all other facts reasonably lending to prove or disprove the existence of any purposeful scheme or arrangement to evade the prohibitions of this section shall be considered.
(B) No license shall be granted to or held by any persons:
(1) Under 21 years of age.
(2) Who is a manufacturer or wholesaler of intoxicating liquor and no manufacturer or wholesaler shall either directly or indirectly own or control or have any financial interest in any retail business selling intoxicating liquor.
(3) Who owns an interest as defined in division (A) above, herein in more than two establishments or businesses for which either an on-sale or off-sale license has been granted under this subchapter. (Am. Ord. 781, passed 8-24-92)
(4) Who, if a corporation, does not have a manager who is eligible pursuant to the provisions of this section.
(5) An on-sale license will not be renewed if, in the case of an individual, the licensee is not a resident of the city at the time of the date for renewal; if, in the case of a partnership, the managing partner is not a resident of the city at the time of the renewal; or in the case of a corporation, if the manager is not a resident of the city at the time of the date of renewal. The time for establishing residence within the city may, for good cause, be extended by the Council.
('69 Code, § 4.40, Subd. 9) (Ord. 1074, passed 10-28-13)