Introduced by Senator Greenwood of Essex-Orleans County
Subject: Alcoholic beverages; agency contract; transfer
Statement of purpose: This bill proposes to provide a preapproval process for transferring the liquor agency contract prior to the sale of the real estate in which the agency is located.
AN ACT RELATING TO TRANSFER OF A CONTRACT LIQUOR AGENCY
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. TRANSFER OF CONTRACT AGENCY IN CONJUNCTION WITH
SALE OF REAL PROPERTY
Prior to the completion of a sale of real estate or a business in which a contract liquor agency is located, and the sale is contingent upon the transfer of the liquor agency contract, the buyer and seller may submit to the department of liquor control a request for approval of the transfer of the liquor agency contract to the buyer. The department shall investigate and approve the buyer, using the same standards as if the contract applications were open. Within 30 days after receipt of the request and all necessary information, the department shall complete the investigation of the proposed transferee and notify the parties if the buyer has been approved, in which case the contract shall be transferred to the buyer upon completion of the sale. If the department denies the transfer of the liquor agency contract to the proposed buyer, the seller may continue as the liquor agency contractor pursuant to the existing contract.