N.C. Gen. Stat. § 18B-1119
Supplier's financial interest in wholesaler
Redline — December 1, 2021 → current.View current text →
Current — June 1, 2022
As of December 1, 2021
(1) A supplier or an officer, director, employee or affiliate of a supplier may not acquire, possess, or otherwise maintain an ownership interest in a wholesaler except as expressly authorized by this Chapter.
(1) A supplier or an officer, director, employee or affiliate of a supplier may not acquire, possess, or otherwise maintain an ownership interest in its wholesaler except as expressly authorized by this Chapter.
(2) Repealed by Session Laws 2018-100, s. 7(b), effective June 26, 2018.
(2) Repealed by Session Laws 2018-100, s. 7(b), effective June 26, 2018.
(3) A supplier or an officer, director, employee or affiliate of a supplier may have a security interest in the inventory or property of its wholesaler to secure payment for such inventory or other loans for other purposes.
(3) A supplier or an officer, director, employee or affiliate of a supplier may have a security interest in the inventory or property of its wholesaler to secure payment for such inventory or other loans for other purposes.
History
(1989, c. 142, s. 2; 2018-100, s. 7(b).)
Effect of Amendments. - Session Laws 2018-100, s. 7(b), effective June 26, 2018, rewrote subsection (a), and deleted subsection (b).
(4) For purposes of this section, “supplier” means a manufacturer, bottler, importer, or owner of one or more brands of malt beverages, unfortified wine, or fortified wine distributed by its wholesaler. The term “supplier” does not include a wholesaler that meets either of the following criteria: The wholesaler also possesses a wine importer permit or a malt beverages importer permit issued pursuant to this Chapter.
(5) The wholesaler is an importer in another state, provided such malt beverages, unfortified wine, or fortified wine are transferred to it through an unaffiliated and independent third party.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.