A. Any corporation applying for a mixed beverage, beer and wine, caterer, public event, beer distributor or bottle club, or as an equity partner in a wine and spirits wholesaler, shall submit to the ABLE Commission the following:
1. A certificate of good standing from the office of the Secretary of State;
2. A list of all corporate officers, directors, executive committee members or members of a similar governing body and their addresses, except for a charitable organization exempt from taxation under Section 501(c)(3),(4),(5),(6),(7),(8),(9),(10), or (19) of the United States Internal Revenue Code, which shall only be required to furnish its corporate officers; and
3. A list of all stockholders owning fifteen percent (15%) or more of the stock and their addresses.
B. Any corporation applying for a retail wine or retail beer license shall submit to the ABLE Commission the following:
1. A certificate of good standing from the office of the Secretary of State;
2. A list of all corporate officers and directors, except for a charitable organization exempt from taxation under Section 501(c)(3),(4),(5),(6),(7),(8),(9),(10), or (19) of the United States Internal Revenue Code, which shall only be required to furnish its corporate officers; and
3. A list of all stockholders owning fifty-one percent (51%) or more of the stock.
C. A corporate licensee shall notify the ABLE Commission in writing of any change in the officers or directors of the corporation or in the principal managers of premises licensed to the corporation and shall pay a fee of One Hundred Dollars ($100.00) for each notification of change. Provided, service organizations which are exempt under Section 501(c)(8), (10), or (14) of the Internal Revenue Code shall be exempt from such fee.
D. A corporate licensee shall notify the ABLE Commission any time a person, any type of partnership, limited liability company or other entity acquires the percentages specified in paragraph 3 of subsection A or B of this section, or more, of the stock of the corporation. Such notification shall be within thirty (30) days of acquisition, and the corporation shall pay a fee of One Hundred Dollars ($100.00) for each notification of change.
E. The ABLE Commission may disapprove a change of officers, directors or principal managers or the acquisition of more than the percentages specified in paragraph 3 of subsection A or B of this section of the stock in a licensed corporation if the ABLE Commission feels that such change would materially affect the conditions under which the license was issued, such that the license would not have been issued had such change been in existence at the time of the original application. If such disapproval occurs, the ABLE Commission shall notify the licensee in writing and in the case of a publicly traded corporation, allow a reasonable time for the licensee to remove such officer, director or manager or for the stockholder to divest himself or herself of any stock held in excess of the percentages specified in paragraph 3 of subsection A or B of this section; provided, a reasonable time may not exceed a ninety-day period following notification of denial by the ABLE Commission. Failure to comply with the provisions of this subsection may result in revocation or suspension of such license.
F. Any person who was an officer or director or who has owned the percentages specified in paragraph 3 of subsection A or B of this section or more of the stock in a corporation which has been denied a license or had a license revoked or suspended pursuant to the provisions of the Oklahoma Alcoholic Beverage Control Act shall not own stock in any other corporation seeking a license pursuant to the provisions of the Oklahoma Alcoholic Beverage Control Act for a period of twelve (12) months from the date the license was revoked or suspended.
G. Any person who was a manager or a member of a limited liability company which has been denied a license or had a license revoked or suspended pursuant to the provisions of the Oklahoma Alcoholic Beverage Control Act shall not own stock in any corporation seeking a license pursuant to the provisions of the Oklahoma Alcoholic Beverage Control Act for a period of twelve (12) months from the date the license was revoked or suspended.
Added by Laws 2016, c. 366, § 55, eff. Oct. 1, 2018.
NOTE: Laws 2016, c. 366, was conditionally effective upon passage of State Question No. 792, Legislative Referendum No. 370, which was adopted at election held on Nov. 8, 2016.