CCP 06-21-1999 - Laserfiche WebLink

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I" 1- ,- I I I I" I I . I I I I I I I ~ I City of Arden Hills Chapter 5 Alcoholic Beverages shall make or cause to be made an investigation as it deems appropriate regarding the transferee or the proposed location. This provision shall also apply in the event of application by a corporate licensee for transfer of stock in the corporation, provided that no transfer fee shall be charged if the transfer is the first within the period of the license or the stock sought to be transferred does not constitute fifty (50) percent or more of the outstanding common stock of the corporation. It is hereby made the duty of the officers of any corporation holding such a license to notify the Council. of any proposed sale or transfer of any stock that restiltS'iii another person holding te,j} or rn~~~J>ltcent interest in the corporation. The transfer of any such stock without the knowledge and consent of the Council shall be deemed sufficient cause for revocation by the Council of any license granted to the corporation under the authority of this Subsection. In addition the corporate officers shall also notify the Council whenever any change is made in the officers of any such corporation, and failure to so notify the council shall likewise be sufficient cause for revocation of any liquor license granted to the corporation B. The: tran3fer ef Jtoek in fifty ee1'pofati6fl helding an 6ft 35.1, ey arr 3aIe. Iiqtl8f lit:eMe in thi3 City shall he aeenfC:8 li tfMl3fcr -uithin the metmiflg of thi3 SubJeeti61it Subd. 15 Display, The license issued under the provisions of this Section shall be posted in a conspicuous place on the licensed premises at all times. 5 - 19