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Select Board approves pledge of license and inventory for Yarmouth Wine & Spirits
Summary
The board approved a procedural pledge of license and inventory for Yarmouth Wine & Spirits after counsel and the applicant's representative explained a post-closing procedural oversight; paperwork was found to be in order and the motion passed unanimously.
The Select Board approved, as a procedural matter, the pledge of license and inventory for Yarmouth Wine & Spirits (484 Station Ave) after the applicant's representative explained a post‑closing procedural misstep.
Patrick Nickerson, representing the applicant, said a term note and line of credit with Rockland Bank had been executed in September 2025 but that formal Select Board approval to pledge the license and inventory had not been obtained before closing. He described the discrepancy as a procedural hiccup discovered during the lender's audit and said the business was now seeking the board's retroactive approval to correct the record. The board confirmed insurance and TIPs certifications were in the file and voted to approve the pledge.
The vote was recorded as a routine procedural action and passed unanimously.
