LD 594
pg. 8
Page 7 of 14 An Act to Privatize the Liquor Industry Page 9 of 14
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LR 7
Item 1

 
requirements of financial responsibility.__For purposes of this
chapter, unless otherwise indicated, the term "applicant" means:

 
A. For an applicant who is a natural person, the individual;

 
B.__For an applicant that is a partnership, each person with
an interest in the partnership; and

 
C.__For an applicant that is a corporation, the officers or
directors of the corporation and each shareholder with a
controlling interest in the corporation.__In the case of a
publicly owned corporation, "controlling interest" means
direct or indirect ownership of more than 50% of the shares
of the corporation.

 
2.__Denial of license.__Finding any of the following is a
ground for license denial:

 
A.__Conviction of a Class A, Class B or Class C crime, or
any crime of moral turpitude; or

 
B.__Conviction of any local, state or federal tax law
violation.

 
§454-C.__Bond required

 
A liquor store licensee must furnish a bond with a surety to
the bureau before conducting any business under the license.__The
amount of the bond must be determined by the bureau, but may not
exceed $100,000.__The purpose of the bond is to insure the
licensee's financial responsibility and to ensure that sufficient
funds are available to satisfy any penalty assessed under this
chapter.

 
If a licensee holds more than one license, the bureau may
determine that only one bond is required, as long as the bond
covers all of the licensed operations of the licensee.

 
§454-D.__Issuance of licenses

 
Licenses for sale and distribution of spirits in liquor stores
may be issued by the bureau upon application and under such rules
as the bureau may prescribe.__A person licensed under this
section may not sell liquor for consumption on the premises where
sold.

 
A license issued by the bureau applies only to the applicant
and the premises designated on the application, unless
transferred pursuant to section 605, subsection 1.


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