Maine Revised Statutes Title 28-A Sec. 85 – Inventory and working capital
Current as of: 2023 | Check for updates
|
Other versions
1. Net profits are general revenue.
[PL 2013, c. 368, Pt. V, §22 (RP).]
Terms Used In Maine Revised Statutes Title 28-A Sec. 85
- Bureau: means the Department of Administrative and Financial Services, Bureau of Alcoholic Beverages and Lottery Operations. See Maine Revised Statutes Title 28-A Sec. 2
- Commission: means the State Liquor and Lottery Commission established in Title 5, section 12004?G, subsection 14. See Maine Revised Statutes Title 28-A Sec. 2
- Liquor: means spirits, wine, malt liquor or hard cider, or any substance containing liquor, intended for human consumption, that contains more than 1/2 of 1% of alcohol by volume. See Maine Revised Statutes Title 28-A Sec. 2
- Spirits: means any liquor produced by distillation or, if produced by any other process, strengthened or fortified by the addition of spirits of any kind. See Maine Revised Statutes Title 28-A Sec. 2
2. Inventory. The bureau may keep and have on hand a stock of spirits for sale, the value of which when priced for resale must be computed on the delivered case cost F.O.B. liquor warehouse designated by the commission filed by spirits suppliers. The inventory value must be based upon actual cost for which payment may be due. Spirits may not be considered to be in the inventory until payment has been made for them.
[PL 2021, c. 658, §60 (AMD).]
3. Authorized working capital.
[PL 2013, c. 368, Pt. V, §22 (RP).]
SECTION HISTORY
PL 1997, c. 373, §28 (NEW). PL 2013, c. 269, Pt. C, §5 (AMD). PL 2013, c. 269, Pt. C, §13 (AFF). PL 2013, c. 368, Pt. V, §22 (AMD). PL 2013, c. 476, Pt. A, §11 (AMD). PL 2021, c. 658, §60 (AMD).