Maryland § 23-1703
Full text of Maryland Maryland Code § 23-1703, with citation guidance and answers to common questions.
§ 23-1703.
(a) Except as provided in subsection (c) of this section, at least one of the applicants for the transfer of a license for a corporation or limited liability company shall certify that as long as the applicant is the holder of the license, the applicant shall:
(1) own at least 10% of the stock in the corporation or interest in the limited liability company; or
(2) (i) serve as the manager or supervisor of the corporation or limited liability company; and
(ii) be physically present on a full–time basis at the licensed premises of the corporation or limited liability company to conduct the daily business involving transactions concerning alcoholic beverages sales.
(b) Except as provided in subsection (c) of this section, applicants for a license for a corporation or limited liability company shall submit:
(1) an executed copy of the articles of incorporation or articles of organization; and
(2) a schedule that states:
(i) the name, address, and percentage of stock held by each stockholder holding at least 5% of the stock of a corporation; or
(ii) the name, address, and percentage of interest held by each member holding at least 5% interest in a limited liability company.
(c) (1) (i) The stock or interest requirements established under subsection (a) of this section do not apply to a corporation or limited liability company in which:
1. the stock of the corporation or interest in the limited liability company is authorized for sale by the United States Securities and Exchange Commission; or
2. a majority of the stock of the corporation or interest in the limited liability company is owned or controlled directly or indirectly by one or more corporations or limited liability companies whose stock or interest is authorized for sale by the United States Securities and Exchange Commission.
(ii) A corporation or limited liability company provided for in subparagraph (i) of this paragraph shall maintain one applicant as a manager or supervisor physically present on a full–time basis at the licensed premises to conduct the daily business involving transactions concerning alcoholic beverages sales.
(2) The schedule requirement established under subsection (b) of this section does not apply to:
(i) a corporation whose stock is authorized for sale by the United States Securities and Exchange Commission; or
(ii) a limited liability company whose interest is authorized for sale by the United States Securities and Exchange Commission.
Frequently Asked Questions About Maryland § 23-1703
What does Maryland Code § 23-1703 cover?
Section 23-1703 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 23-1703?
A common citation format is "Maryland Code § 23-1703" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 23-1703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.