Montana Code 16-3-223. Transfer of wholesaler’s interest in business
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16-3-223. Transfer of wholesaler’s interest in business. A wholesaler may sell or transfer the business or an interest in the business to any person or to one or more members of the wholesaler’s family or heirs or legatees, whether the wholesaler operates as an individual, a partnership, or corporation. However, the consent of the brewer or beer importer in writing is required for the transferee to continue as a wholesaler of the brewer or beer importer. The consent must consider the personal, financial, and managerial responsibilities and capabilities of the transferee, and the consent may not unreasonably be withheld.
Terms Used In Montana Code 16-3-223
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Writing: includes printing. See Montana Code 1-1-203