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<br />I' <br /> <br />~ <br /> <br />I <br />I <br />I <br />I' <br />I <br />I <br />Ie <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />~ <br /> <br />I <br /> <br />City of Arden Hills <br /> <br />Chapter 5 Alcoholic Beverages <br /> <br />shall make or cause to be made an investigation as it deems appropriate regarding <br /> <br />the transferee or the proposed location. This provision shall also apply in the event <br /> <br />of application by a corporate licensee for transfer of stock in the corporation, <br /> <br />provided that no transfer fee shall be charged if the transfer is the fIrst within the <br /> <br />period of the license or the stock sought to be transferred does not constitute fIfty <br /> <br />(50) percent or more of the outstanding common stock of the corporation. It is <br /> <br />hereby made the duty of the officers of any corporation holding such a license to <br /> <br />notify the Council. of any proposed sale or transfer of any stock that reslJlts:m <br /> <br /> <br />another person holding te9- or riJ.~~~pe':.cent interest in the corporation. The transfer <br /> <br /> <br />of any such stock without the knowledge and consent of the Council shall be deemed <br /> <br /> <br />sufficient cause for revocation by the Council of any license granted to the <br /> <br />corporation under the authority of this Subsection. In addition the corporate officers <br /> <br />shall also notify the Council whenever any change is made in the officers of any <br /> <br />such corporation, and failure to so notify the council shall likewise be sufficient <br /> <br />cause for revocation of any liquor license granted to the corporation <br /> <br />B. The tralufcf af 3teek in ftRY corparliti6fi balding an 6n ~a.k ar afr Jftl, liqtt6f <br /> <br />lieeruc in thb Cit) .'3hall be deemecl 5. trftfl3fcr -.vitftin tfic meaning af tbi3 Stll'3eetioa, <br /> <br />antI ne :rtleft k8.ft3fer af 3teek 3ftalI be made. "uhhal:it the e81l3ent af the c6t:ll:lcil.. <br /> <br />Subd. 15 Display. The license issued under the provisions of this Section shall be posted <br /> <br />in a conspicuous place on the licensed premises at all times. <br /> <br />5 - 19 <br />