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UTAH CODE (Last Updated: January 16, 2015) |
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Title 32B. Alcoholic Beverage Control Act |
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Chapter 8a. Transfer of Retail License Act |
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Part 4. Protection of Creditors |
§ 32B-8a-403. Statement by transferee. (Effective 7/1/2014)
Latest version.
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(1) Within 30 days after the filing of a transfer application under Section 32B-8a-302 for transfer of a retail license, the transferee shall file with the department a statement executed under penalty of perjury that the consideration as set forth in the escrow agreement required by Section 32B-8a-401 is deposited with the escrow holder. (2) At the time the statement described in Subsection (1) is filed with the department, the transferee shall submit a copy of the statement to: (a) the transferor; and (b) the escrow holder. (3) The department may extend the 30-day period specified by this section for a period not to exceed an additional 30 days, except that a retail license may not be transferred until the statement required by this section is received by the department. (4) This section does not apply to a transfer for which a guaranty of payment is filed pursuant to Section 32B-8a-404.