Iowa Admin. Code r. 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).
Notes
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