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Cal. Bus. & Prof. Code § 24079

Transfer of Licenses

Showing this section's text as in effect on January 1, 2011 (in force January 1, 2011 – January 1, 2013). View current text →

(a) The purchase price or consideration that may be paid by a transferee or received by a transferor of an on-sale general license or off-sale general license originally issued on or after June 1, 1961, shall not exceed six thousand dollars ($6,000), except that after a period of five years from the date of the original issuance of the license there shall be no restriction as to the purchase price or consideration that may be paid by a transferee or received by a transferor.

(b) Notwithstanding subdivision (a), any original on-sale general license or any original off-sale general license for which a fee in excess of twelve thousand dollars ($12,000) has been paid pursuant to subdivision (b) of Section 23954.5 may not be transferred for one year following its initial issuance. After one year, this license may be transferred and there shall be no restriction as to the purchase price or consideration that may be paid by a transferee or received by a transferor.

(c) Any original on-sale general license or any original off-sale general license for which an original fee of twelve thousand dollars ($12,000) was paid shall not be transferred for a purchase price in excess of twelve thousand dollars ($12,000) for two years following its initial issuance. After two years, this license may be transferred and there shall be no restriction as to the purchase price or consideration that may be paid by a transferee or received by a transferor.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.