South Carolina Code 61-6-151. Prohibitions on licensee’s interests in retail liquor stores
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 61-6-151
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, a trust, estate, partnership, limited liability company, receiver, association, company, corporation, or any other group. See South Carolina Code 61-2-100
To protect the health, safety, and morals of the residents of this State, no person, directly or indirectly, individually or as a member of a partnership or an association, as a member or stockholder of a corporation, or as a relative to a person by blood or marriage within the second degree, may have any interest whatsoever in a retail liquor store licensed under this section except the six stores covered by his retail dealer’s licenses, pursuant to § 61-6-141.