N.M. Admin. Code § 15.11.23.10 - PROHIBITED CHANGES IN OWNERSHIP OR STRUCTURE
A. 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.
Notes
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