Illinois Administrative Code
Title 11 - ALCOHOL, HORSE RACING, LOTTERY, AND VIDEO GAMING
Part 402 - CONCESSIONAIRE RULES
Section 402.140 - License Deemed Personal
Universal Citation: 11 IL Admin Code ยง 402.140
Current through Register Vol. 48, No. 12, March 22, 2024
Licenses to operate as a concessionaire are deemed personal in nature and non-transferable, and will terminate upon a substantial change of ownership of the concessionaire, unless the Board has granted prior approval. The sale or transfer of 25% or more of the equity of a concessionaire shall be considered a substantial change of ownership. In acting upon a request for approval of a substantial change in ownership, the Board shall consider the same factors as it considers in the initial grant of an occupation license to a concessionaire.
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