Tennessee ABC simplifies corporate changes

As the Tennessee Alcoholic Beverage Commission’s online licensing system known as RLPS nears its first anniversary, the ABC continues to refine and enhance the system. This post explores improvements for larger corporate license holders. 

Change in Control of Corporate Owners

A change in corporate officers can trigger the need to file an amendment to the RLPS license. For publically traded companies, licensees owned by investment funds and other more-complicated ownership structures, corporate officers at the license level are treated as “owners,” because the officers are deemed by the ABC to control the licensee. A change in one of the officers constitutes a change of control, similar to a change in ownership of the licensee.

Officer changes trigger the need to pay a $300 application fee and file new RLPS questionnaires and copies of government IDs. The ABC will review the officer disclosures and, if in order, approve the amendment to the license.

This process does not apply to closely-held companies, like restaurants and bars that are owned by one or two individuals. 

Master Files for LBD Licensees

We have great news for publicly traded companies and other complicated license holders.  The ABC has recently made master company records available for liquor by the drink licensees. 

Master company records have been available for food store applicants for a couple of years.  We find master company records to be particularly helpful where an address or officer change needs to be made to several license files. 

If a licensee has a master company record, the change only needs to be made to the master company record. If not, you have to go in and individually revise each license for simple changes, such as disclosure of a new officer.

The ABC is still working out the details with officer changes and we encourage folks to stay tuned for more information.

All those changes in corporate officers makes us think of the Queen favorite:

And another one gone, and another one gone

Another one bites the dust

Hey, I’m gonna get you, too

Another one bites the dust

Source: LastCall