Current through Register Vol. XLI, No. 50, December 13, 2024
Section 175-5-6 - Duties of Purchase Option Applicants and Applicants who are Successful Bidders for Class A Retail Licenses and Class B Retail Licenses To Open and Operate Its Authorized Stores; Limitation on Number of Retail Outlets a Person May Hold6.1. An applicant who meets all requirements and who becomes a purchase option applicant or a successful bidder for a Class A ten-year (10) retail license or Class B ten-year (10) retail license to become effective on July 1, 2010, and on July 1st for every ten year license period thereafter shall be required to open and operate all authorized retail stores for each license within ninety (90) days following July 1, 2010, and on July 1st for every ten year license period thereafter, or within ninety (90) days following the date upon which he or she or it is issued a Class A retail license, whichever comes last. The holder of such a license shall operate each of the authorized retail stores for a minimum period of one year.6.1.a. Any person who acquires such a license subsequent to July 1, 2010, and subsequent to July 1st for every ten year license period thereafter, as a result of a purchase option, purchase made during a competitive, rebid process, or as a result of a license transfer or purchase approved by the Commissioner, shall be required to comply with the opening of all authorized stores on a date specified by the Commissioner and shall open and operate such stores for a minimum period of one year.6.2. No person may hold a combination of licenses that, in the aggregate, authorizes the operation of more than thirty percent (30%) of the total number of retail outlets authorized to operate in the State.