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