Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Liquor Control Commission
Licensing Qualifications - SDD License; prohibited issuance or transfer
Section R. 436.1115 - Retail license; minimum qualifications; corporate stock transfer
Current through Vol. 24-04, March 15, 2024
Rule 15.
(1) Before the issuance of a retail license, an applicant shall meet both of the following minimum qualifications, if applicable:
(2) If a person who is a stockholder in an applicant corporation and who has not been fingerprinted by the commission applies to transfer to himself or herself 10% or more of the corporate stock, in the aggregate, of a privately held licensed retail corporation, then the commission shall fingerprint and investigate the person before the commission grants approval of the stock transfer.
(3) If a person who is a member of a limited liability company and who has not been fingerprinted by the commission applies to transfer to himself or herself 10% or more of the total interest in the retail licensed limited liability company, then the commission shall fingerprint and investigate the person before the commission grants approval of the transfer of interest.