If a corporation, limited partnership, or limited liability company holds, directly or indirectly, 10 percent or more of the ownership of a license issued under this division, the licensee shall report any change in the ownership, management, or control of that corporation, limited partnership, or limited liability company, in the same manner as would be required by Sections 23405, 23405.1, and 23405.2, if the corporation, limited partnership, or limited liability company were itself the licensee.
Cal. Bus. & Prof. Code § 23405.3
Rights and Obligations of Licensees
Known as the Alcoholic Beverage Control Act
The act spans §§ 23000–25762 (737 sections).
Added by Stats. 2008, Ch. 508, Sec. 5
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.