Sec. 1. (a) It is unlawful for a commissioner, an officer or employee of the commission, or a member of a local board, to have an interest, either proprietary or by means of a loan,
mortgage, or
lien, or in any other manner, or to own stock in a
corporation which has an interest, in the premises where alcoholic beverages are manufactured or sold, or in a business wholly or partially devoted to the manufacture, sale, transportation, or storage of alcoholic beverages. The prohibition contained in this section shall not apply to an expert or professional employee employed by the commission only for a special undertaking. A person who violates a provision of this section also shall be dismissed as provided in this title.
Attorney's Note
Under the Indiana Code, punishments for crimes depend on the classification. In the case of this section:
| Class | Prison | Fine |
|---|
| Class B misdemeanor | up to 180 days | up to $1,000 |
For details, see
Ind. Code § 35-50-3-3
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Terms Used In Indiana Code 7.1-5-9-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
[Pre-1973 Recodification Citation: 7-1-1-5.]
Formerly: Acts 1973, P.L.55, SEC.1. As amended by P.L.159-2014, SEC.56.
