Retailer going out of business in debt to wholesaler, procedure
When a store that sells alcohol owes money to a supplier for too long, the supplier has to report that debt to the state liquor office. Until that debt is paid off, the store cannot get a new or renewed liquor license. Once the debt is paid, the supplier has to tell the state liquor office right away.
311.265. going out of business in debt to , procedure — new prohibited. — When a retailer licensed under this chapter is beyond the permissible ordinary commercial period, the wholesaler shall notify the in writing of the debt and no new or renewal license shall be issued to the retailer until the reported debt is satisfied. The wholesaler shall immediately notify the supervisor of liquor control in writing when the debt is satisfied. As used in this section, the term "retailer" shall include an individual, , or , all officers and of such person or and all stockholders owning, legally or , directly or indirectly, ten percent or more of the stock of such person or entity.
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Source & history notes
(L. 1985 H.B. 166, A.L. 1995 S.B. 43, A.L. 2009 H.B. 132)
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.