Title 27

SECTION 25.72

25.72 Change in proprietorship.

§ 25.72 Change in proprietorship.

(a) General. If there is a change in the proprietorship of a brewery, the outgoing brewer shall comply with the requirements of § 25.85. The successor brewer shall, before beginning operations, qualify in the same manner as the proprietor of a new brewery. The successor brewer shall file a new notice and bond in his or her own name, except that the successor brewer is not required to file a bond if the brewer is exempt from bond requirements under § 25.91(e). Beer on hand may be transferred without payment of tax to the successor brewer and will be accounted for by that brewer.

(b) Fiduciary. (1) If the successor to the brewer is an administrator, executor, receiver, trustee, assignee or other fiduciary, the fiduciary may in lieu of filing a new notice and bond, file an amended notice and furnish a consent of surety extending the terms of the predecessor's bond or continuation certificate. A fiduciary is not required to furnish a consent of surety under this paragraph if the brewer is exempt from bond requirements under § 25.91(e).

(2) The fiduciary shall furnish the appropriate TTB officer a certified copy of the court order or other document showing qualification as fiduciary. The effective date of the qualifying documents filed by a fiduciary will be the same as the date of the order, or the date therein specified for the fiduciary to assume control. If the fiduciary was not appointed by the court, the date of the appointment will be the effective date of the qualifying documents filed by the fiduciary.

(Sec. 201, Pub. L. 85-859, 72 Stat. 1388, as amended (26 U.S.C. 5401)) [T.D. ATF-224, 51 FR 7673, Mar. 5, 1986, as amended by T.D. TTB-146, 82 FR 1127, Jan. 4, 2017]

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