Alcoholic Liquors Generally

ORS 471.757
Statement of financial interest in business of licensee


(1)

At such times as the Oregon Liquor Control Commission may prescribe and upon forms furnished by the commission, any license applicant or licensee of the commission may be required to submit a sworn statement to the commission showing the name, address and the nature and extent of the financial interest of each person, individual and corporate, having a financial interest in the business operated under the license.

(2)

The commission shall review the statement and may refuse to issue a license to any license applicant, or may suspend, cancel or refuse to renew the license of any licensee, when conditions exist in relation to any person having a financial interest in the business or in the place of business which would constitute grounds for refusing to issue a license or for cancellation or suspension of a license if such person were the license applicant or licensee. However, in cases where the financial interest is held by a corporation, only the officers and directors of the corporation, any individual or combination of individuals who own a controlling financial interest in the business and any manager of the business shall be considered persons having a financial interest within the meaning of this subsection. [1963 c.369 §1; 1995 c.301 §45; 1999 c.351 §63; 2001 c.785 §9]

Notes of Decisions

This section provides that, in general, a licensee is just as accountable for the acts of its investors as for its own acts. Sportservice Corp. v. Ore. Liquor Control Comm., 15 Or App 226, 515 P2d 731 (1973), Sup Ct review denied

The acts of a person associated with a financially interested corporation will not be imputed to the licensee unless that person is an officer, director, manager or a controlling investor in that corporation. Sportservice Corp. v. Ore. Liquor Control Comm., 15 Or App 226, 515 P2d 731 (1973), Sup Ct review denied

Chapter 471

Atty. Gen. Opinions

Employment by OLCC of staff member as "hearings advocate" at certain OLCC contested case hearings, (1983) Vol 44, p 1

Law Review Citations

16 WLR 479 (1979)


Source

Last accessed
Jun. 26, 2021