New Hampshire Code of Administrative Rules
Liq - State Liquor Commission
Chapter Liq 900 - LICENSEE DISCOUNT, CREDIT AND BILLING PROCEDURES
Part Liq 905 - BANKRUPTCY
Section Liq 905.01 - Licensee Bankruptcy

Universal Citation: NH Admin Rules Liq 905.01

Current through Register No. 40, October 3, 2024

Any applicant for credit, who has in the past 7 years declared bankruptcy, either personally or as a principal of a corporation or other business entity, shall be bound by the following provisions:

(a) If the licensee is other than a natural person, that entity shall post a bond or irrevocable letter of credit from a state or federally recognized financial institution in the amount of the credit requested;

(b) Any licensee who declares bankruptcy shall forfeit all credit privileges and shall pay for product with cash, certified check, or debit card while in bankruptcy; and

(c) Upon emerging from bankruptcy, said licensee may reapply for credit privileges subject to the provisions of this chapter.

#4720, eff 1-1-90; ss by #5043, eff 1-11-91; ss by #6391, eff 11-28-96, EXPIRED: 11-28-04

New. #9227, eff 8-6-08, EXPIRED: 8-6-16

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