Nebraska Administrative Code › Topic - LIQUOR CONTROL COMMISSION › Title 237 - Nebraska Liquor Control Commission › Chapter 3 - CORPORATIONS/PARTNERSHIPS › Section 237-3-002 - CHANGE OF OWNERSHIP OR CONTROL - CORPORATIONS AND PARTNERSHIPS

Current through June 17, 2024
002.01 General
				Partnership
When a licensee operating as a general partnership acquires
				  a new partner, the licensee must at once make that fact known to the
				  commission. The commission may require such information and documentation as it
				  deems necessary from the new partner to enable the State Patrol to complete a
				  background check of the new partner, and/or the commission may require the
				  partnership to submit an application for a new license. One of the general
				  partners must be named as agent. If the general partner is a corporation, one
				  individual must be named as agent (or person in charge) with the filing of a
				  manager's application.
002.02 When one general partner sells part or
				all of his interest in a licensed business to another existing general partner,
				or when an existing general partner or general partners acquires by any lawful
				means an interest held by another general partner or general partners, that
				fact must be made known to the commission by a sworn affidavit, however, an
				application for a new license need not be made.
002.03 Limited Partnership
When any business is operated as a limited partnership and
				  one or more of the limited partnerships are sold to another, whether that
				  limited partner is an existing partner or not, the existence of the change in
				  the limited partnership must be made known to the Commission by affidavit
				  within ten days, however, an application for a new license need not be
				  made.
002.04 Corporations
All direct or indirect interests in a license held in whole
				  or part by a corporation must be disclosed to the Commission in the application
				  for a liquor license. When any corporation applying for a license has
				  outstanding shares issued to a corporation and/or holding company, that fact
				  must be disclosed in the application. Each corporation listed on the
				  application must disclose any corporation and/or holding company which holds
				  shares in it. For each corporation and/or holding company disclosed, a
				  disclosure shall be made of each shareholder owning in the aggregate more than
				  25% of the corporation. Any applicant who has a corporation as a shareholder
				  shall file an organizational chart which lists all shareholders which are
				  either a corporation and/or any shareholder which owns in the aggregate more
				  than 25% of the stock of the corporation.
002.05 Corporations
Any transfer of the outstanding and issued stock of a
				  corporation holding a license which results in any person holding in the
				  aggregate more than twenty-five percent of all of the outstanding and issued
				  stock of such corporation shall be communicated to the commission within ten
				  days in writing by certified or registered mail, along with an affidavit of
				  said stockholder in the form prescribed by the commission, concerning whether
				  or not he is qualified to meet the standards established by law for those to
				  whom such a license may be issued as an individual, other than citizenship or
				  residence; in the event such stockholder fails to qualify as hereinbefore set
				  out as a licensee under the Nebraska Liquor Control Act said corporation shall
				  be notified in writing by certified or registered mail, and shall within twenty
				  days of the notification surrender for cancellation said corporate license or
				  show cause why the same should not be surrendered for cancellation or file with
				  the Commission an application for a new liquor license in the manner prescribed
				  by law and regulation.
002.06 The sale of the majority of the
				corporate outstanding and issued stock or the transfer of the control of the
				majority of such outstanding and issued stock by a power of attorney or proxy
				filed with said corporation or held by any person or exercised at any
				stockholders meeting of a corporation holding a wholesale or retail license
				under the Nebraska Liquor Control Act shall constitute a change of ownership of
				said corporation. The corporation shall notify the Commission at once of such a
				change of ownership. The Commission may require such information and
				documentation as it deems necessary from the new owner(s) to enable the State
				Patrol to complete a background check of those new owner(s) and/or the
				Commission may require the corporation to submit an application for a new
				license. When all or part of the outstanding and issued stock of a corporation
				is held by any number of stockholders, and one or more existing stockholder
				acquires by sale or transfer any part of or all the outstanding and issued
				stock held by another existing stockholder, that fact must be made known to the
				Commission within 10 days of such transfer, by a sworn affidavit stating the
				number of shares having been transferred and whether or not the transferee is
				qualified to meet the standards established by law for those to whom such a
				license may be issued as an individual, other than citizenship or residence,
				but an application for a new license need not be made.
002.07 Any time any person or persons acquire
				for the first time a beneficial interest in the form of ownership of
				outstanding and issued stock in any licensed corporation in an amount equal to
				more than five percent of the outstanding and issued corporate stock that
				person must inform the commission by affidavit of the other liquor license in
				which a beneficial interest is possessed, if any, within ten days by registered
				mail. Provided, however, any corporate licensee listed on the New York Stock
				Exchanges or any corporate licensee having one hundred or more shareholders
				need only so inform the commission of any such beneficial interest of persons
				comprising the ten largest stockholders of that corporation.