(a) Notwithstanding any law or rule to the contrary, a manufacturer licensed under § 57-3-202 may have a direct or indirect interest in any establishment licensed pursuant to this part; provided, that such interest is held in an irrevocable trust by an independent trustee.
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Terms Used In Tennessee Code 57-4-110

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Manufacturer: means and includes a brewer of high alcohol content beer, distiller, vintner and rectifier. See Tennessee Code 57-3-101
  • Trustee: A person or institution holding and administering property in trust.
(b) [Deleted by 2019 amendment.]
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