1. (a) A local licensing board may issue a license to dispose of stock for a period not exceeding 10 consecutive days.

2. (b)

   1. (1) A license holder may dispose of the license holder's stock of alcoholic beverages if:

      1. (i) the license has been canceled, revoked, or suspended;
      2. (ii) renewal has been denied by the local licensing board; or
      3. (iii) a renewal license has been granted by the local licensing board and a court on judicial review has reversed the local licensing board's decision.
   2. (2) A license holder that disposes of stock may sell the stock at retail or to a licensed wholesaler.
   3. (3) A license does not authorize the license holder to purchase alcoholic beverages for resale.
3. (c) The fee for a license under this section is $5 per day.

Added by Acts 2016, c. 41, § 2, eff. July 1, 2016.