No Board member or employee of the Authority shall (i) be a principal stockholder or (ii) otherwise have any financial interest, direct or indirect, in any licensee subject to the provisions of this subtitle or in any entity that has submitted an application for a license under Chapter 2 (§ 4.1-200 et seq.). No Board member and no spouse or immediate family member of a Board member shall make any contribution to a candidate for office or officeholder at the local or state level or cause such a contribution to be made on his behalf.

Terms Used In Virginia Code 4.1-101.04

  • Authority: means the Virginia Alcoholic Beverage Control Authority created pursuant to this subtitle. See Virginia Code 4.1-100
  • Board: means the Board of Directors of the Virginia Alcoholic Beverage Control Authority. See Virginia Code 4.1-100
  • Licensee: means any person to whom a license has been granted by the Authority. See Virginia Code 4.1-100
  • Principal stockholder: means any person who individually or in concert with his spouse and immediate family members beneficially owns or controls, directly or indirectly, five percent or more of the equity ownership of any person that is a licensee of the Authority, or who in concert with his spouse and immediate family members has the power to vote or cause the vote of five percent or more of any such equity ownership. See Virginia Code 4.1-100
  • State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245

2015, cc. 38, 730.

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