South Dakota Administrative Rules — Title 64 (Revenue)

ARSD § 64:75:02:02 — Voluntary transfer -- Approval required

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64:75:02:02. Voluntary transfer -- Report required. Any
person voluntarily transferring the stock of a corporation holding a license
issued pursuant to SDCL title 35 shall notify the department if the stock transfer results in a change of the majority ownership of the corporation. The person shall notify the department using forms prescribed by the department. The notice shall include the name of the owner or holder of such stock, amount of stock involved in the voluntary transfer, and the name and address of each proposed transferee. The secretary shall inform the governing body of the local government responsible for determining the suitability of the alcoholic beverage licensees, pursuant to SDCL 35-2-1.2 and 35-2-6.2.

Last amended: Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 31 SDR 214, effective July 6, 2005; 32 SDR 58, effective October 25, 2005. General Authority: SDCL 35-10-1(7). Law Implemented: SDCL 35-2-1.2 , 35-2-6.2 , 35-10-1(7).

Source: official text