Alcohol

Change of Ownership

If the ownership of a licensed establishment is changed in some manner, the Division requires certain information documenting the change. Without proof of the change, new and renewal licenses cannot be issued. The following documents must be submitted to the Division and the local authority (city clerk or county auditor) when there is change of ownership:

  • Corporations - minutes of corporate meetings reflecting resignation of the previous officers and directors and election of the new officers and directors, along with copies of the transfer of shares of corporation stock.
  • Partnerships - dissolution of partnership or notarized affidavit from the partner leaving the partnership, and amended trade name document.
  • Individuals - cancellation of the existing license by the previous licensee; or, copy of the finalized sales contract, bill of sale or warranty deed; and/or copy of lease agreement.

When change of ownership is due to divorce or death, a copy of the divorce decree or death certificate is required. (Divorce decrees will be returned to the applicant and will not be made a part of the permanent licensing record.)

When new partners are added to partnerships or new officers, directors or shareholders are added to corporations, the new partner, officer, director or shareholder must complete the ownership and conviction questions on a new application. This provides the local authority and the Division with the information necessary to determine if the new individuals meet licensing requirements.

Iowa Code section 123.38 and 185-5.7 Iowa Administrative Code