311.265. Retailer going out of business in debt to wholesaler, procedure--new license prohibited. - Missouri Statutes

Retailer going out of business in debt to wholesaler, procedure--newlicense prohibited.

311.265. When a retailer licensed under this chapter is delinquentbeyond the permissible ordinary commercial credit period, the wholesalershall notify the supervisor of liquor control in writing of the debt and nonew or renewal license shall be issued to the retailer until the reporteddebt is satisfied. The wholesaler shall immediately notify the supervisorof liquor control in writing when the debt is satisfied. As used in thissection, the term "retailer" shall include an individual, corporation,partnership or limited liability company, all officers and directors ofsuch person or entity and all stockholders owning, legally or beneficially,directly or indirectly, ten percent or more of the stock of such person orentity.

(L. 1985 H.B. 166, A.L. 1995 S.B. 43, A.L. 2009 H.B. 132)