[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR22.58]

[Page 514]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 22--DISTRIBUTION AND USE OF TAX-FREE ALCOHOL--Table of Contents
 
                        Subpart D--Qualification
 
Sec. 22.58  Automatic termination of permits.

    (a) Permit not transferable. Permits issued under this part are not 
transferable. In the event of the lease, sale, or 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 ATF officer. The written notice 
shall be accompanied by (or within 30 days of the change) an application 
and supporting documents on Form 5150.22 for a new permit. If an 
application on Form 5150.22 for a new permit is not filed within 30 days 
of the change, the outstanding permit will automatically terminate.
    (2) If an application on Form 5150.22 for a new permit is filed 
within the 30-day period prescribed in paragraph (b)(1) of this section, 
the outstanding permit will remain in effect until final action is taken 
on the application. When final action is taken, the outstanding permit 
will automatically terminate and the permittee shall forward it to the 
appropriate ATF officer for cancellation.
    (c) Proprietorships. In the event of a change in proprietorship of a 
business of a permittee (as for instance, by reason 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.

(Approved by the Office of Management and Budget under control number 
1512-0335)