LD 683

APPROVED  CHAPTER
  APRIL 11, 2025  21
  BY GOVERNOR  PUBLIC LAW
  STATE OF MAINE
  _____
  IN THE YEAR OF OUR LORD
  TWO THOUSAND TWENTY-FIVE
  _____
  S.P. 299 - L.D. 683
    An Act to Clarify the Law Governing the Minimum Indirect Financial
  Interest Disclosure Requirement for Liquor Licenses
Be it enacted by the People of the State of Maine as follows:
   Sec. 1. 28-A MRSA §651, sub-§2, ¶A-1, as enacted by PL 2023, c. 633, §2, is
amended to read:
   A-1. An applicant shall disclose any person that holds an indirect financial interest
   equal to or greater than 10% in the person for which a license or certificate of approval
   is sought. For the purposes of this paragraph, "indirect financial interest" means:
       (1) An option, warrant or other right to acquire an equity interest in the person for
       which a license or certificate of approval is sought; or
       (2) A right to payment of, or a right to payment based upon, all or any portion of
       revenues, profits or losses derived from the operations under a license or certificate
       of approval issued under this Title of the person for which a license or certificate
       of approval is sought, including, but not limited to, profit sharing, revenue sharing
       or royalty payments.
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