HomeMy WebLinkAboutCity Council Ordinance 1989-13Ordinance No. 89-13
AN ORDINANCE RELATING TO PUBLIC HEALTH AND WELFARE,
AMENDING SECTION 1206.37 OF THE PLYMOUTH CITY CODE.
THE CITY COUNCIL OF THE CITY OF PLYMOUTH ORDAINS:
Section 1. The Plymouth City Code, Subsection 1206.37, is
amended to read:
1206.37. Disclosure; Corporate Licensees. It is a
condition of every license issued to a corporation that
the City Manager be furnished by the licensee with a
correct list of (i) all stockholders of the eerperatiee
corporate licensee and the number of shares held by
each, either individually or beneficially for others
and (ii) the same information for all corporation which
directly or indirectly own, or hold beneficial inter-
ests in, the stock of such corporate licensee. It is
the continuing duty of each corporate licensee to
promptly notify the City Manager of any change in
ownership or beneficial interest of such shares.
Ghanges Any change of ownership or beneficial interests
e€ in shares of stock entitled to be voted at any
meeting of the stockholders of the eerperatien corpo-
rate licensee which results in change in vetixg control
of the eerperat-lea corporate licensee by the persons
owning shares of stock therein, or any change of
ownership of stock in any corporation which directly or
indirectly owns stock of such corporate licensee and
which results in a change of control of such corpora-
tion shall, in either event, be deemed equivalent to a
transfer of the license issued to the eerperat€en
corporate licensee and any such license shall be
revoked and terminated 30 days after any such change in
ew�erek4p-er-beae€€e€al-€eterest-a€-skares of control
unless the City Manager shall have been notified of
such change in writing, and the City Council shall have
approved thereof. The term "control," as used herein,
means the power to directly or indirectly direct, or
cause the direction of, the management or policies of
such corporate licensee. The City Manager may at any
reasonable time examine the stock transfer records and
minute books of any corporate licensee in order to
verify the names of the stockholders and persons voting
at meetings of such corporations. The Without limiting
the generality of the foregoing, the City Council may
cancel and terminate any license issued hereunder to a
eerperat#ee corporate licensee upon determination that
any change of ewnersk4p -e€ -steek -€n control of such
corporate licensee has reer�}ted-#e-a-ekarige-a€-eextrel
e€--sueh--eerperat#ee occurred (whether directly or
indirectly) so as to materially affect the integrity
and character of its management and its operation of an
"off -sale" or "on -sale" business, provided that no such
action shall be taken until after a hearing by the City
Council on 30 days' written notice to the licensee.
Sec. 2. This ordinance is effective on the date of its
publication in accordance with Subsection 110.11.
Attest:
1P tcP�i.�
`C erk
a:00660R02.I34
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Mayjgr
Published: Plymouth. PostNews 5-31-89.
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