§ 10-14. Change in personnel.

(a)

Any changes in partnerships, officers, directors, persons holding directly, beneficially, or through any form of indirect or concealed ownership or control, more than five percent of the stock or ownership interest, or managers of establishments licensed under this chapter, shall be reported in writing to the Local Liquor Control Commissioner within ten days of the change. All new personnel shall meet all the standards of this chapter and must otherwise qualify to hold a liquor license. All such changes in personnel shall be subject to review by the Local Liquor Control Commissioner.

(b)

When a license has been issued to a partnership and a change of ownership occurs resulting in a partnership interest by one who is not eligible to hold a liquor license, said license shall terminate.

(c)

When a license has been issued to a corporation and a change takes place in officers, directors, shareholders of more than five percent of the stock, resulting in the holding of such shares of stock by one who is not eligible for a license, said license shall terminate.

(d)

When a license has been issued to an individual who is no longer eligible for a license, said license shall terminate.

(Code 1993, § 11-14)