The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Cathy Wells.
DIGEST
Morrell (SB 249)
Present law prohibits tobacco permits from being transferred.
Present law provides that if over 51% of a corporation is sold or transferred during the period for
which a permit was issued, a new permit must be applied for, and the new owner must comply
with provisions of law. Present law further provides that if the holder of the permit is an
association, partnership, or limited partnership, a change of the controlling interest constitutes a
change of ownership.
Proposed law retains present law and extends holder of a permit to include limited liability
company or any other legal entity.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 26:912(A))