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A BILL TO BE ENTITLED
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AN ACT
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relating to investment by the holder of a manufacturer's license in |
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certain businesses that hold a general distributor's license. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 102, Alcoholic Beverage |
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Code, is amended by adding Section 102.181 to read as follows: |
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Sec. 102.181. MANUFACTURER: INTEREST IN DISTRIBUTORSHIP. |
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(a) In this section: |
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(1) "Minority-owned business" means a business entity |
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at least 51 percent of which is owned by members of a minority group |
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or, in the case of a corporation, at least 51 percent of the shares |
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of which are owned by members of a minority group, and that is |
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managed and controlled by members of a minority group in its daily |
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operations. |
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(2) "Minority group" includes: |
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(A) women; |
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(B) African Americans; |
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(C) American Indians; |
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(D) Asian Americans; and |
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(E) Mexican Americans and other Americans of |
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Hispanic origin. |
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(b) Notwithstanding any other provision of this code, the |
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holder of a manufacturer's license may have a financial interest |
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described by this section in a business that holds a general |
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distributor's license. |
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(c) The holder of a manufacturer's license may loan money to |
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a minority-owned business to start a beer distributorship business. |
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The terms and conditions of the loan may not: |
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(1) require the holder of the general distributor's |
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license to buy or sell any particular brand of beer; or |
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(2) prohibit the holder of the general distributor's |
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license from buying or selling any particular brand of beer. |
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(d) The holder of a manufacturer's license may not be |
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involved in any aspect of the operation of the distributorship |
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business. |
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(e) The holder of the general distributor's license must pay |
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off the loan not later than the 10th anniversary of the date the |
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loan is made. |
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SECTION 2. This Act takes effect September 1, 2007. |