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

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.