3-4-205. Interest in other permits prohibited — Exceptions.

Arkansas Code — all titles (historical 2020) · legal_authorities

3-4-205. Interest in other permits prohibited — Exceptions.

3-4-205. Interest in other permits prohibited — Exceptions. (a) For purposes of this section, the term “vested permits” is defined as those multiple retail liquor permits which were lawfully issued to any person, firm, or corporation prior to July 19, 1971. (b)(1)(A) No retail liquor permit shall be issued, either as a new permit or as a replacement of an existing permit, to any person, firm, or corporation if the person, firm, or corporation has any interest in another retail liquor permit, regardless of the degree of interest. (B) A retail liquor permit shall apply only to one (1) location, and a person, firm, or corporation shall not be permitted to receive any direct or indirect financial benefit from the sale of liquor at any location other than the permitted location. (2) However, notwithstanding this prohibition, any retail liquor permits held by any person, firm, or corporation on July 19, 1971, which continue to be held by any person, firm, or corporation having an interest in more than one (1) retail liquor permit on August 13, 1993, shall be vested permits. (c)(1) Holders of vested permits may not sell, convey, assign, or devise any such interest in multiple retail liquor permitted businesses to any person or persons, firm, or corporation which, on the date of any such transfer, already has any ownership interest in a permitted retail liquor business. (2) However, holders of vested permits shall be allowed to sell, convey, assign, or devise any such interest in multiple retail liquor permitted businesses to any other person or persons, firm, or corporation, thereby creating an ownership interest in more than one (1) retail liquor permit to any such subsequent purchasers, assignees, or devisees without violating any of the provisions hereinabove.(d

Source: Arkansas Code — historical release 78 (November 6, 2020) · 3-4-205

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.