Restaurant licensee raises question on restructuring and ownership limits
Summary
License holder Jody Schulz told the board he's considering restructuring liquor licenses for three restaurants and asked about ownership rules; Vice-Chairman Beery clarified that a person cannot have controlling interest in more than one location and that LLC license holders must own at least 15%.
During public comment, Jody Schulz said he is considering restructuring liquor licenses for restaurants he and family members control and asked how ownership rules would apply. He stated that "he is the license holder for the Hyatt Hotel, Mr. Andy Schulz holds the license for Fisherman’s Inn and Mr. Tracy Schulz holds the license for the Crab Deck."
Vice-Chairman Thomas E. Beery responded with a clarification on board policy and practice: "a person cannot have controlling interest in more than one location," and for an LLC the license holders must own at least 15% of the business. Schulz said he contacted board counsel Jeff Thompson for guidance and hopes to make any changes at renewal time on May 1.
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