Page 1 - 132LR1389(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 299 - L.D. 683
An Act to Clarify the Law Governing the Minimum Indirect Financial
Interest Disclosure Requirement for Liquor Licenses
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 28-A MRSA §651, sub-§2, ¶A-1, as enacted by PL 2023, c. 633, §2, is
amended to read:
A-1. An applicant shall disclose any person that holds an indirect financial interest
equal to or greater than 10% in the person for which a license or certificate of approval
is sought. For the purposes of this paragraph, "indirect financial interest" means:
(1) An option, warrant or other right to acquire an equity interest in the person for
which a license or certificate of approval is sought; or
(2) A right to payment of, or a right to payment based upon, all or any portion of
revenues, profits or losses derived from the operations under a license or certificate
of approval issued under this Title of the person for which a license or certificate
of approval is sought, including, but not limited to, profit sharing, revenue sharing
or royalty payments.
APPROVED
APRIL 11, 2025
BY GOVERNOR
CHAPTER
21
PUBLIC LAW