Part 2 — STOCK OWNERSHIP LICENSES

Editor's note— Ord. 30616, adopted June 29, 2021, repealed § 16.32.300, which pertained to pre-1999 stock ownership and derived from Ord. 28517.

A.

No person shall hold any interest in, or ownership of, stock in a cardroom permittee without a valid stock ownership license.

B.

No cardroom permittee shall transfer, sell or assign stock to a person who does not hold a valid stock ownership license.

C.

Any person seeking to have an ownership interest in the stock of a cardroom permittee, shall first apply to the administrator for a stock ownership license. Any transfer of stock to a person who does not hold a valid stock ownership license shall be considered to be void and of no effect.

(Ord. 28517.)