[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR20.57]

[Page 505-506]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 20_DISTRIBUTION AND USE OF DENATURED ALCOHOL AND RUM--Table of Contents
 
              Subpart D_Qualification of Dealers and Users
 
Sec.  20.57  Automatic termination of permits.

    (a) Permit not transferable. Permits issued under this part are not 
transferable. In the event of the lease, sale, or

[[Page 506]]

other transfer of such a permit. or of the operations authorized by the 
permit, the permit shall, except as provided for in this section, 
automatically terminate.
    (b) Corporations. (1) If actual or legal control of any corporation 
holding a permit issued under this part changes, directly or indirectly, 
whether by reason of a change in stock ownership or control (in the 
permittee corporation or any other corporation), by operation of law, or 
in any other manner, the permittee shall, within 10 days of the change, 
give written notice to the appropriate TTB officer. Within 30 days of 
the change, the permittee shall file an application for a new permit, 
Form 5150.22 with supporting documents. If an application for a new 
permit is not filed on Form 5150.22 within 30 days of the change, the 
outstanding permit will automatically terminate.
    (2) If an application for a new permit is filed on Form 5150.22 
within the 30-day period prescribed in paragraph (b)(1) of this section, 
the outstanding permit may remain in effect until final action is taken 
on the application. When final action is taken, the outstanding permit 
will automatically terminate and shall be forwarded to the appropriate 
TTB officer.
    (c) Proprietorships. In the event of a change in proprietorship of a 
business of a permittee (as for instance, by reasons of incorporation, 
the withdrawal or taking in of additional partners, or succession by any 
person who is not a fiduciary), the successor shall file written notice 
and make application on Form 5150.22 for a new permit, under the same 
conditions provided for in paragraph (b) of this section. The successor 
may adopt the formulas and statements of process of the predecessor.

(Approved by the Office of Management and Budget under control number 
1512-0336)

[T.D. ATF-199, 50 FR 9162, Mar. 6, 1985; 50 FR 20099, May 14, 1985]