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<br /> <br /> <br /> Ordinance Number 32 <br /> <br /> P age '4 <br /> <br /> - Section 3e (continia.ed) <br /> <br /> S-abdi-vision le (cantinued) <br /> Applications for an "Qn saler, ar, "off <br /> sal:e" license on behalf of the corponm <br /> ation shal1 include, in additior to <br /> such other info rsnation as to the name s, <br /> addre S se s y and o c cup at i on s of the <br /> stockholders and of'f'icers of the cor- <br /> ~ porationa The transfer of stock in any <br /> corparation hQlding an "on sale " or <br /> "of f sale" liqu.or license in this Vi1- <br /> lage sraS.l be deemed a transfer vrithin <br /> the me aning of this ordinance g and no <br /> suvh transf er of stock shall be made <br /> without the consent of the uouncile <br /> It is hereby made the duty af the offim <br /> cers of any carporation holding such a <br /> license to no tify the Cauncil of any <br /> proposed sa3e or transfer of ar?,y stack <br /> in such corpfl rat ion. The transfer of <br /> any such stock withaut the knovrl.edge <br /> and consent af the Council shall be <br /> de°med suf'f'icient cause for revocatian <br /> by the Council of eny licanse; gran.ted <br /> to such corparation un.der the ea. thority <br /> of this ardi ra.ance o In addition the <br /> carporatq Qfficers sYzall also natif y <br /> t,he Council vihen.e-rer an; change is nade <br /> in the of i icers of anJ such c4rporatican9 <br /> a.nd fa:il.ure ta so notif';v the Counci1, <br /> shall li kevrise be s}af'ficient caa. sc:,~ for <br /> revocatic?n of any liquQr 1,ic;ens° grunted <br /> to such corpar~.~.tio:no <br /> Su.bdivision 2. A surety bond$ ]_iability insu:rd nce policy,e <br /> or in lieu ther~~~ of casn or Unite dSt ate s <br /> Cra-sernment Bonds of eqv; Era2nnt marke#, <br /> va1ue shall accompan-7 ear.h applic at ion <br /> for a license, the &Tr4o?znt r°ewoverabie <br /> to be me asured b;~~ tb-e ac~:ual dam«age s ; <br /> pro v idedg no~,, e ver 9 that in nc ease sr ai.l <br /> sueh sur~~ty be lzab le f or any amount in <br /> excess of the penal ar;~ount of the bonci <br /> ar Policyo - <br /> A1.1 such bpnds ar policies shall be f9r <br /> the ber?efit of the oblic-ee ar:d a1l <br /> persons suffering dam.aSes by reaacn o# <br /> the breach of th: corditians of the <br /> ~ bonda In the ~ -N;ent of' the forfe i'u.zre <br /> of any such bond or Polzcy far vi.ola- <br /> tion of lavi, the district ccurt may <br /> f orfe it the penal su;tn of #,re bond pr <br /> policy ar any part of it ta th-e state <br /> of the Vi1lage of lArden -uliZ1s o <br /> Subdivision 3¢ The security offered under 'Subdivision <br /> ~ 2 sha11 be apFro.red by the Village <br /> Council aiid in the case of ap-pllicants <br /> for "off salef" licenses b„r the State <br /> Liquor Gontrol Cor!~?issionero Surety <br /> bands and liabilitv insuran.ce policies <br /> sha11 be approved as to form by the <br />