1. (a) This section does not apply to:

   1. (1) a license holder of a license issued before May 1, 1977; and
   2. (2) an applicant for a Class B beer, wine, and liquor license.

2. (b)

   1. (1) Except as provided in subsection (a) of this section, a license on behalf of a corporation or limited liability company may be issued only if the following requirements are met.

   2. (2) At least one applicant shall:

      1. (i) be a registered voter, taxpayer, and resident of the county; and
      2. (ii) own at least 10% of the total issued capital stock of the corporation or 10% interest in the limited liability company.

   3. (3) Each applicant shall submit to the Board a sworn statement that includes:

      1. (i) 1. the name and address of each stockholder of the corporation; and

         1. 2. the number of voting shares owned by each stockholder; or

      2. (ii) 1. the name and address of each member of the limited liability company; and

         1. 2. the percentage share of voting interest owned by each member.

Added by Acts 2016, c. 41, § 2, eff. July 1, 2016. Amended by Acts 2021, c. 109, § 1, eff. April 13, 2021.