Notwithstanding § 57-3-204(c) or any other law to the contrary, a retailer licensed pursuant to § 57-3-204 that is selling the licensed establishment to a new licensee of the same license type or that is closing the licensed establishment may sell or transfer its alcoholic beverages to the purchasing entity or person or to another establishment of the same license type held by the closing licensee, if:

(1) The selling or closing licensee submits written notice to the commission and the department of revenue at least ten (10) days in advance of the sale or transfer to dispose of the licensee’s remaining inventory. The commission shall determine the form of such notice and the method by which the notice must be provided. The notice must identify the licensee who is purchasing or receiving the inventory, the proposed date of the sale or transfer, and the quantity, types, and brands of alcoholic beverages to be sold or transferred;

Terms Used In Tennessee Code 57-3-226

  • Commission: means the alcoholic beverage commission, except as otherwise provided. See Tennessee Code 57-3-101
  • License: means the license issued pursuant to this chapter. See Tennessee Code 57-3-101
  • Licensee: means any person to whom such license has been issued pursuant to this chapter. See Tennessee Code 57-3-101
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Retailer: means any person who sells at retail any beverage for the sale of which a license is required under this chapter. See Tennessee Code 57-3-101
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(2) All invoices and debts related to alcoholic beverages being sold or transferred pursuant to this section are paid in full prior to the alcoholic beverages being sold or transferred; and
(3) The purchaser or transferee is licensed by the commission under § 57-3-204 prior to the sale or transfer being finalized.
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