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1342Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 20000413Primary Sponsor: PassailaigueAll Sponsors: Passailaigue and McConnellDrafted Document Number: l:\council\bills\swb\5164mm00.docCompanion Bill Number: 4877Residing Body: SenateCurrent Committee: Judiciary Committee 11 SJSubject: Beer wholesaler, licensed; interest in limited partnership; Businesses and Corporations, Alcohol and Alcoholic BeveragesHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 20000418 Companion Bill No. 4877 Senate 20000413 Introduced, read first time, 11 SJ referred to Committee Versions of This Bill
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 33-42-75, SO AS TO PROVIDE FOR THE INTEREST OF A MANUFACTURER, BREWER, OR IMPORTER OF BEER LICENSED IN THIS STATE IN A LIMITED PARTNERSHIP FOR THE PURPOSE OF PROVIDING FINANCIAL ASSISTANCE TO ACQUIRE A LICENSED BEER WHOLESALER.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 42, Title 33 of the 1976 Code is amended by adding:
"Section 33-42-75. (A) A manufacturer, brewer, or importer of beer, or its affiliate, licensed in this State may hold an interest in a limited partnership providing financial assistance to a general partner wholesaler as described in subsection (B), but may exercise only such control of the limited partnership business as is permitted by this chapter. The limited partner may not have or exercise managerial control or decision-making authority, including personnel decisions, with respect to the day-to-day operations of the limited partnership. Upon a default by the general partner wholesaler, the limited partner may not acquire or assume additional control, ownership, or financial interest in the general partner wholesaler, nor may it become the general partner in the limited partnership. The manufacturer, brewer, or importer of beer, or its affiliate, licensed in this State may not have a financial or ownership interest in the general partner wholesaler.
(B) The only financial assistance allowed pursuant to subsection (A) is the initial financial assistance to the limited partnership to acquire a licensed beer wholesaler. In that arrangement for financial assistance, the federal basic permit and the wholesaler's license issued by the Department of Revenue must be issued in the name of the general partner wholesaler on behalf of the limited partnership, and may not be issued in the name of the limited partnership nor in the name of the manufacturer, brewer, or importer, or its affiliate.
(C) The limited partnership providing the financial assistance described in this section may not exist for more than ten years from the date of its creation, and may not be recreated, renewed, or extended, beyond that date.
(D) This section does not amend or otherwise alter Title 61 except for the limited purpose of allowing a manufacturer, brewer, or importer of beer, or its affiliate, who is licensed in this State to provide financial assistance to a limited partnership for the exclusive purpose of acquiring a licensed beer wholesaler. A manufacturer, brewer, or importer, or its affiliate may not require a wholesaler to use the financial assistance as described above."
SECTION 2. This act takes effect upon approval by the Governor.
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