Sale or transfer of alcoholic beverage inventory

Notwithstanding any other law to the contrary, a retailer licensed pursuant to § 57-3-803 that is selling the licensed establishment to a new licensee of the same license type or that is closing the licensed establishment may sell or transfer its wine to the purchasing entity or person or to another establishment of the same license type held by the closing licensee, if: (1) The selling or closing licensee submits written notice to the commission and the department of revenue at least ten (10) days in advance of the sale or transfer to dispose of the licensee’s remaining inventory. The commission shall determine the form of such notice and the method by which the notice must be provided. The notice must identify the licensee who is purchasing or receiving the inventory, the proposed date of the sale or transfer, and the quantity, types, and brands of wine to be sold or transferred; Ask a legal question, get an answer ASAP!(2) All invoices and debts related to wine being sold pursuant to this section are paid in full prior to the wine being sold or transferred; and (3) The purchaser or transferee is licensed by the commission under § 57-3-803 prior to the sale or transfer being finalized.