Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Liquor Control Commission
Licensing Qualifications - SDD License; prohibited issuance or transfer
Section R. 436.1110 - Application for license by limited liability company; receipt of distributions by assignee of membership interest in company; approval for reorganization or realignment of company; transfer fee; notification of changes in managers, members, assignees, articles of organization, or operating agreement; investigation of company; company authorization to do business in state required
Current through Vol. 24-04, March 15, 2024
Rule 10.
(1) A limited liability company applying for a license shall file all of the following items with the commission, as applicable:
(2) An assignee of any membership interest in a licensed limited liability company shall not receive the distributions to which the assignor would be entitled, unless the assignee has received the prior written approval of the commission.
(3) Any reorganization or realignment of a limited liability company within a single licensing year that results in a transfer of more than 10% of the total interest in the limited liability company is considered a transfer requiring prior approval of the commission under section 529 of 1998 P.A. 58, MCL 436.1529.
(4) A transfer, in the aggregate, of 50% or more of the total interest in a limited liability company during any licensing year shall, upon approval by the commission, require the payment of a transfer fee in accordance with section 529 of 1998 P.A. 58, MCL 436.1529.
(5) A licensed limited liability company shall immediately notify the commission, in writing, of any change in any of the following:
(6) The commission may investigate any transfer of interest in a limited liability company or any proposed member, manager, or assignee of membership interest in a limited liability company.
(7) A licensed limited liability company shall be authorized to do business under the laws of this state.