(1) A retail licensee may not enter into any agreement under which the retail licensee pledges the retail license as security for a loan or as security for the fulfillment of any agreement.
(2) A retail licensee may not transfer a retail license if the transfer is to: (a) satisfy a loan or to fulfill an agreement entered into more than 90 days preceding the date on which the transfer application is filed; (b) gain or establish a preference to or for any creditor of the transferor, except as provided by Section 32B-8a-202; or (c) defraud or injure a creditor of the transferor.
(a) satisfy a loan or to fulfill an agreement entered into more than 90 days preceding the date on which the transfer application is filed;
(b) gain or establish a preference to or for any creditor of the transferor, except as provided by Section 32B-8a-202; or
(c) defraud or injure a creditor of the transferor.
(3) A retail licensee may not transfer a retail license except in accordance with this chapter.
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