As Amended
SEC. 67-1-55. Applicants for permits must disclose persons financially interested in business; penalty.
No permit of any type shall be issued by the commission until the applicant has first filed with said commission a sworn statement disclosing all persons who are financially involved in the operation of the business for which the permit is sought. If an applicant is an individual, he will swear that he owns one hundred per cent (100%) of the business for which he is seeking a permit. If the applicant is a partnership, all partners and their addresses shall be disclosed and the extent of their interest in said partnership shall be disclosed. If the applicant is a corporation, the total stock in said corporation shall be disclosed and each shareholder and his address and the amount of stock in said corporation owned by him shall be disclosed. If the applicant is a trust, the trustee and all beneficiaries and their addresses shall be disclosed. If the applicant is a combination of any of the above, all information required to be disclosed above shall be required.
All such disclosures shall be in writing and kept on file at the commission's office and shall be available to the public.
Every applicant must, when applying for a renewal of his permit, disclose any change in the ownership of said business or any change in the beneficiaries of the income from said business.
Any person who willfully fails to fully disclose the above required information or who gives false information shall be guilty of a misdemeanor and upon conviction thereof, shall be fined a sum not exceeding five hundred dollars ($500.00) or imprisoned for not more than one year, or both, and said person or applicant shall never again be eligible for any permit pertaining to alcoholic beverages.
SOURCES: Codes, 1942, Sec. 10265-20; Laws, 1966, ch. 540, Sec. 20, eff from and after July 1, 1966.