Public Chapter 543

HOUSE BILL NO. 1836

By Representatives Tindell, Phelan, West

Substituted for: Senate Bill No. 561

By Senator Rochelle

AN ACT to amend Tennessee Code Annotated, Section 57-3-204, relative to residency requirements for a retail license for the sale of alcoholic beverages.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 57-3-204(b)(2), is amended by deleting the subdivision in its entirety, and by substituting instead the following language:

(2) A retail license under this section may be issued to individuals who are residents of the State of Tennessee and either have been bona fide residents of the State for at least two (2) years next preceding or who have at any time been residents of the State of Tennessee for at least ten (10) consecutive years.

SECTION 2. Tennessee Code Annotated, Section 57-3-204(b)(3)(A), is amended by deleting the subdivision in its entirety and by substituting instead the following language:

(A) All of its capital stock must be owned by individuals who are residents of the State of Tennessee and either have been residents of the State for at least two (2) years next preceding or who have at any time been residents of the State of Tennessee for at least ten (10) consecutive years;

SECTION 3. Tennessee Code Annotated, Section 57-3-204(b)(3)(C), is amended by deleting subdivision (C) in its entirety and by adding the following language:

(C) No stock of any corporation licensed under this section shall be transferred to any person who is not a resident of the State of Tennessee and either has not been a resident of the State for at least two (2) years next preceding or who at any time has not been a resident of Tennessee for at least ten (10) consecutive years.

SECTION 4. This act shall take effect upon becoming a law, the public welfare requiring it.