Iowa Admin. Code r. 185-5.7

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 185-5.7 - Change of ownership of a licensed premises, new license or permit required

(1) A new license or permit and a new bond and a new dramshop policy must be obtained whenever one of the following occurs:

a. When a business is sold or leased to another person.

b. When a licensee or permittee changes to another form of business, such as: sole proprietorship to a corporation; a corporation to a sole proprietorship; a sole proprietorship to a partnership; a partnership to a sole proprietorship; a partnership to a corporation; or a corporation to a partnership.

c. When a partner leaves a partnership or when a new partner is added to a partnership.

d. When a corporation name is changed due to a merger or is voluntarily changed by its owners.

e. Each time an entity obtains a seasonal license or permit.

f. When a receiver takes over the operation of an establishment.

(2) A new license or permit is not required:

a. When only the trade name of the business is changed.

b. When the stock of a corporation holding a license or permit is sold. A letter to the division listing the new owner or owners and the amount of stock held by each is required.

c. When a name of a licensee or permittee is changed by marriage, divorce, or other legal proceeding. A letter requesting the name change is required.

d. When a license or permit is transferred to another location within the jurisdiction of the local authority as allowed by rule 185-4.18 (123).

Iowa Admin. Code r. 185-5.7

Amended by IAB September 20, 2023/Volume XLVI, Number 6, effective 10/25/2023