Rule 560-2-2-.10 - Ownership Interest; Change or Transfer of Ownership(1) Neither a Manufacturer, Shipper, Importer, or Broker, nor any of its employees or members of such Manufacturer's, Shipper's, Importer's, or Broker's Immediate Family shall have, own, or enjoy any ownership interest in, or partnership arrangement or other business association with the business of any Wholesaler or Retailer.(2) Neither a Wholesaler, nor any of its employees, nor any members of such Wholesaler's Immediate Family shall have, own, or enjoy any ownership interest in, or partnership arrangement or other business association with the business of any Manufacturer, Shipper, Importer, Broker, or Retailer; provided nothing shall prohibit such persons from owning stock in such firms when such firms' stock is publicly traded on a national exchange or over the counter.(3) Neither a Retailer or Retail Consumption Dealer, nor any of its employees or members of such Retailer's or Retail Consumption Dealer's Immediate Family, shall have, own, or enjoy any ownership interest in, or partnership arrangement or other business association with, the business of any Wholesaler, Manufacturer, Shipper, Importer or Broker.(4) Provided however, nothing shall prohibit the Commissioner from waiving the above prohibitions in regard to children of the Manufacturer, Wholesaler, Shipper, Importer, or Retailer, provided the children are emancipated and hold no business interest, financial interest, or vested interest in the parent's operation.(5) It shall be the duty of the Licensee to notify the Commissioner in writing concurrently with: (a) Any change to an answer or personnel statement made on an application for a license which is either pending or approved, and such written notification must be timely reported as an amendment to the application.(b) Any change in any interest in Licensee's business, including but not limited to: 1. Execution of Letter of Intent to sell or purchase.2. Receipt of a bona fide proposal to purchase.3. Division of the profits.4. Division of net or gross sales for any purpose whatsoever.5. Change in ownership of any legal entity that has any interest in such business or the change of management of such legal entity.6. A loss or damage to goods which results in a claim against an insurance policy.(c) Any public corporation whose stock is traded on recognized national stock exchanges shall be exempt from subparagraphs (5)(b)2, (5)(b)3, (5)(b)4, and (5)(b)5.(d) Any substantial change in or any agreement in principle, whether written or not, to change the conduct or ownership interest of any licensed business.(6) The Commissioner shall notify Licensee upon receipt of written notice of any objection to the ownership or interest. (a) The Licensee shall have fifteen (15) days from the date of the notice to request, in writing, a hearing on the objection.(b) Upon receipt of Licensee's written request, the Commissioner shall provide the Licensee with due notice and opportunity for hearing on the application pursuant to Subject 560-2-16.(c) If the Commissioner, after providing notice and opportunity for hearing, finds the Licensee is not entitled to a license pursuant to these regulations, the applicant shall then be advised in writing of the findings upon which the denial is based.(d) If the Licensee does not request a hearing, the Commissioner will review the objections, render a final decision and notify the applicant.(7) No state license may be transferred from one Person to another. (a) The Commissioner may at the Commissioner's discretion grant a transfer of a license from one location to another location within the same local regulatory jurisdiction, provided authority for such a transfer has also been granted by the local governing authority.Ga. Comp. R. & Regs. R. 560-2-2-.10
O.C.G.A. §§ 3-2-2, 48-2-12.
Original Rule entitled "Registration of Brands" adopted. F. and eff. June 30, 1965.Repealed: New Rule entitled "Solicitation of Drinks" adopted. F. May 5, 1982; eff. May 25, 1982.Repealed: F. Sept. 6, 2006; eff. Sept. 26, 2006.Amended: New Rule entitled "Outside Delivery of Drinks" adopted. F. Sept. 20, 2007; eff. Oct. 10, 2007.Repealed: New Rule entitled "Ownership Interest; Change or Transfer of Ownership" adopted. F. Oct. 1, 2010; eff. Oct. 21, 2010.Amended: F. May 31, 2023; eff. June 20, 2023.