Checkout our iOS App for a better way to browser and research.
(1) "Interim alcoholic beverage management agreement" means an agreement:
(a) in connection with:
(i) the transfer of a retail license; and
(ii)
(A) an asset sale of a retail licensee; or
(B) a transfer of the management of a retail licensee to a new entity; and
(b) under which the purchaser or the new management entity agrees to perform the operations of the retail licensee during the period that:
(i) begins when:
(A) the asset sale closes; or
(B) the new management agreement is executed; and
(ii) ends on the day after the day on which the commission approves the transfer of the retail license.
(2) "Inventory transfer agreement" means an agreement under which a retail licensee agrees to sell or otherwise transfer all or part of the retail licensee's inventory of alcoholic product.