Sec. 5.4. (a) The commission shall not issue an alcoholic beverage retailer's permit of any type to a limited liability company unless at least sixty percent (60%) of the membership interest is owned by persons who have been continuous and bona fide residents of Indiana for five (5) years.
(b) The commission shall not issue an alcoholic beverage dealer's permit of any type for the premises of a package liquor store to a limited liability company unless:
(1) at least sixty percent (60%) of the outstanding membership interest in the limited liability company is owned by persons who have been continuous and bona fide residents of Indiana for five (5) years; and
(2) the membership interest described in subdivision (1) constitutes a controlling interest in the limited liability company.
(c) Each manager and member of a limited liability company must possess all other qualifications required of an individual applicant for that particular type of permit.
As added by P.L.51-1994, SEC.12. Amended by P.L.72-1996, SEC.14; P.L.72-2004, SEC.15; P.L.165-2006, SEC.32; P.L.107-2015, SEC.5; P.L.133-2016, SEC.7; P.L.214-2016, SEC.26; P.L.44-2017, SEC.2.
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