Section R. 436.1119 - Retail license; agreementsRule 19.
(1) An agreement to buy and sell a business licensed to sell alcoholic liquor at retail, wherein there is not a total cash transaction, and which includes both the personal property and the real estate, shall include a separate statement listing the personal property and the real estate and the terms and price of each.(2) A retail licensee shall not include alcoholic liquor in a security agreement or in a financing statement filed pursuant to Act No. 174 of the Public Acts of 1962, as amended, being S440.1101 et seq. of the Michigan Compiled Laws, and known as the uniform commercial code.Mich. Admin. Code R. 436.1119
1979 AC; 1984 AACS; 1987 AACS