§ 37-535.1. Mixed beverage, beer and wine, caterer or bottle club licensees, officers, directors or stockholder of corporate licensee owning more than 15% of stock - Limitations on rights and interests.

No mixed beverage, beer and wine, caterer or bottle club licensee, partner in any type of partnership, manager or member of a limited liability company, officer, director or stockholder of any corporate licensee owning more than fifteen percent (15%) of the stock shall have any right, title, lien, claim or interest, financial or otherwise in, upon or to the premises, equipment, business or merchandise of any package store, manufacturer or wholesaler.  The provisions of this section shall not prohibit a person who is an officer or director of a fraternal or veteran's organization which is a tax exempt organization under Section 501(c)(8), (10) or (19) of the Internal Revenue Code and which holds a license issued by the ABLE Commission from having a right, title, lien, claim, or interest in the premises, equipment, business, or merchandise of a package store.

Added by Laws 1985, c. 6, § 71, emerg. eff. March 14, 1985.  Amended by Laws 1985, c. 195, § 9, emerg. eff. June 26, 1985; Laws 1987, c. 70, § 1, emerg. eff. May 6, 1987; Laws 1994, c. 361, § 13; Laws 1995, c. 192, § 11, eff. Sept. 1, 1995.