Kan. Admin. Regs. § 14-14-4

Current through Register Vol. 43, No. 40, October 3, 2024

Section 14-14-4 - Corporate licensees, change of ownership updating application, certification that new owner qualified

(a) Each transfer of the stock of a corporation holding a manufacturer's license which results in any person holding 25 percent of the outstanding stock of the corporation shall be reported to the director. Within 20 days of the transfer of stock to that person, the corporation shall file with the director:

(1) A supplement to its current application reflecting the change; and

(2) a sworn statement that the person obtaining 25 percent or more of the outstanding shares is qualified under the liquor control act to hold a manufacturer's license.

(b) Each transfer of the stock of a corporation holding a distributor's license which results in any person obtaining a beneficial interest in the corporation shall be reported to the director. Within 20 days of the transfer of stock to that person, the corporation shall file with the director:

(1) A supplement to its current application reflecting the change in ownership; and

(2) a sworn statement that the person obtaining the beneficial interest in the corporation is:

(A) Qualified under the liquor control act to hold a distributor's license; or

(B) not qualified under the liquor control act to hold a distributor's license but meets the requirements of K.S.A. 1987 Supp. 41-311(d)(1)(A) or (B).

(c) Each corporation holding a manufacturer's, distributor's, farm winery, microbrewery or nonbeverage user's license shall keep a register of all stockholders, which shall be open for inspection by the director, the director's agents or employees at all reasonable business hours. The register shall contain the following information applicable to each stockholder.

(1) Name;

(2) current address;

(3) amount of stock owned;

(4) the amount which may be voted by power of attorney or proxy;

(5) the date of acquisition of any stock; or

(6) the execution or revocation of any power of attorney or proxy.

(d) The records of every corporation holding a manufacturer's, distributor's, farm winery, microbrewery or nonbeverage user's license shall reflect the election of all directors and the appointment of all officers of the corporation.

(e) This regulation shall take effect on or after October 1, 1988.

Kan. Admin. Regs. § 14-14-4

Authorized by K.S.A. 1987 Supp. 41-210; implementing K.S.A. 1987 Supp. 41-311; effective, T-89-2, Jan. 7, 1988; effective Oct. 1, 1988.