N.M. Admin. Code § 15.11.23.10
Current through Register Vol. 35, No. 21, November 5, 2024
Section 15.11.23.10 - PROHIBITED CHANGES IN OWNERSHIP OR STRUCTUREA. A person may not hold a ten percent or more interest in a license when such person would not satisfy the requirements of Sections 60-6B-1 or 60-6B-1.1 NMSA 1978.B. A noncitizen may hold an interest in a license, subject to other qualifications provided in the act and these rules, unless the director determines that holding such interest in a license would be contrary to the public health, safety and morals of the state, or any community therein.C. This rule does not authorize the transfer of any stock or other ownership interest of any licensee whose license is not otherwise transferable under the provisions of the act.D. The director, upon notification of any change in ownership or structure, may require any entity or person who has obtained an interest in any license, or other entity, to complete and provide all documents and information the director deems necessary to ensure full disclosure and qualification of all persons and entities.E. No license will be issued when the applicant is delinquent in the payment of any taxes, fees, fines, costs or penalties collected by the state of New Mexico, the liability for which arises out of the exercise of the privilege of a liquor license; or if citations for violations of the act are unresolved at the time of filing the application.N.M. Admin. Code § 15.11.23.10
3/31/97; 7/15/99; Recompiled 12/31/01, Adopted by New Mexico Register, Volume XXVIII, Issue 08, April 25, 2017, eff. 4/25/2017