Texas Alcoholic Beverage Code 102.10 – Distiller and Rectifier: Interest in Wholesaler
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(a) This section applies to the following:
(1) a holder of a distiller’s and rectifier’s permit;
(2) a person, firm, or corporation engaged in distilling or rectifying liquor, either inside or outside this state;
(3) an officer, director, agent, or employee of an entity named in Subdivision (1) or (2) of this subsection; or
(4) an affiliate of an entity named in Subdivision (1) or (2) of this subsection, regardless of whether the affiliation is corporate or by management, direction, or control.
(b) No entity named in Subsection (a) of this section may have any interest in the permit, business, assets, or corporate stock of a holder of a wholesaler’s permit.
Terms Used In Texas Alcoholic Beverage Code 102.10
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liquor: means any alcoholic beverage, other than a malt beverage, containing alcohol in excess of five percent by volume, unless otherwise indicated. See Texas Alcoholic Beverage Code 1.04
- Person: means a natural person or association of natural persons, trustee, receiver, partnership, corporation, organization, or the manager, agent, servant, or employee of any of them. See Texas Alcoholic Beverage Code 1.04