Notice Of Intended Transfer Or Retail Alcoholic Beverage License Under Sections 24073 AND 24074 {ABC-227}

ABC-227, NOTICE OF INTENDED TRANSFER OF RETAIL ALCOHOLIC BEVERAGE LICENSE UNDER SECTIONS 24073 AND 24074 CALIFORNIA BUSINESS AND PROFESSIONS CODE, The purpose of a Notice of Intended Transfer (“notice”) is to permit creditors to take steps to protect their interests. Record the notice in the office of the county recorder of the county or counties in which the licensed premises are situated. (Section 24073 B&P Code). ABC employees shall not prepare the notice because it affects the rights and duties between the parties. If there is a defect in the notice, a change in the full amount of consideration from that shown in the notice, or you do not submit a notice with the license application, ABC will not process the transfer until the 11th day after the new notice is properly recorded. A notice does not eliminate the need to comply with Division 6 of the Commercial Code, which relates to the business, stock in trade, fixtures, etc., of a merchant. ABC does not give advice on what will meet the Commercial Code requirements. Corporations, limited liability companies and limited partnerships use Form ABC-227-A for any of the following: • Transfer of 50% or more of the stock in a corporation • Transfer of 50% or more of the capital or profits in a limited partnership • When there is a new general partner in a limited partnership • Transfer of 50% or more of the membership interests in a limited liability company. www.FormsWorkflow.com