| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 84R2369 JAM-D | |
| 2 | 2 | By: Oliveira H.B. No. 3104 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to intra-industry relationships between alcoholic | |
| 8 | 8 | beverage manufacturers, wholesalers, and retailers. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subchapter A, Chapter 102, Alcoholic Beverage | |
| 11 | 11 | Code, is amended by adding Section 102.011 to read as follows: | |
| 12 | 12 | Sec. 102.011. EXCEPTION: CERTAIN TIED INTERESTS NOT | |
| 13 | 13 | PROHIBITED. (a) In this section, "affiliate" has the meaning | |
| 14 | 14 | assigned by Section 1.002, Business Organizations Code. | |
| 15 | 15 | (b) Notwithstanding Section 102.01 or any other provision | |
| 16 | 16 | of this code, a person's ownership interest in the equity of a | |
| 17 | 17 | holder of a license or permit under this code or an affiliate of a | |
| 18 | 18 | holder of a license or permit under this code may not be considered | |
| 19 | 19 | an unlawful tied house interest if: | |
| 20 | 20 | (1) the person owns five percent or less of the | |
| 21 | 21 | outstanding securities issued by the license or permit holder or | |
| 22 | 22 | any affiliate of the license or permit holder; and | |
| 23 | 23 | (2) the securities are registered with the Securities | |
| 24 | 24 | and Exchange Commission and are publicly traded on a national or | |
| 25 | 25 | regional securities exchange or an over-the-counter market. | |
| 26 | 26 | SECTION 2. This Act takes effect September 1, 2015. |