W. Va. Code R. § 175-5-17

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 175-5-17 - Sale, Assignment or Transfer of Retail License

17.1. No person may purchase or otherwise acquire a retail license unless the Commissioner has first approved the person's qualifications to hold a retail license. Those qualifications are the same as those required by W. Va. Code § 60-3A-1, et seq. and this rule.

17.2. No person may sell, assign or otherwise transfer a retail license without the prior written approval of the Commissioner. The Commissioner's approval shall not be unreasonably withheld. For purposes of W. Va. Code § 60-3A-14 and this 175-5-14, the merger of a retail licensee or the sale of more than fifty percent (50%) of the outstanding stock of a licensee which is a corporation, or of the partnership or ownership interests of a partnership or other entity that is not a corporation, shall be deemed to be a sale, assignment or transfer of a retail license.