(625 ILCS 5/18c-4306) (from Ch. 95 1/2, par. 18c-4306)
Sec. 18c-4306.
Expedited Transfer Procedures.
(1) The Commission may provide for the transfer of a license, without
notice and hearing, and without the necessity of making the findings
specified above, when such transfer or control is to:
(a) a member or members of the transferor's immediate |
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(b) a corporation, the stock of which is wholly owned
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| by the transferor or members of his immediate family or a member or members of the transferor partnership;
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(c) a member or members of a partnership of which the
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(d) a stockholder or stockholders of the transferor
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| corporation or of a corporation wholly owned by the transferor or the transferor's immediate family;
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(e) the heirs of a person who dies intestate or the
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| legatees of a testator, upon order of the probate court having jurisdiction;
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(f) the heirs or legatees of the transferor pursuant
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| to the Probate Act of 1975, as amended;
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(g) a corporation, more than 50% of the stock of
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| which is controlled by the stockholders of the transferor corporation; or
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(h) a corporation, all of the stock of which is
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| controlled by a member or members of the immediate family of the stockholder or stockholders of the transferor corporation.
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(2) When a transfer of a license may be accomplished on an expedited basis
without notice and hearing through 2 or more transactions of the type described
in subsection (a), and they do, in fact, represent a single, contemporaneous
transaction, then the Commission shall allow the transfer to be made as a
single transaction in a single application. However, it shall be the
applicants' burden to demonstrate that they are entitled to this treatment of
their application by setting forth each of the individual qualifying
transactions under subsection (1) with the same detail and specificity as if
each individual application were filed.
(Source: P.A. 88-415 .)
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