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Title 27: Alcohol, Tobacco Products and Firearms
CHAPTER I: ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY (CONTINUED)
SUBCHAPTER B: TOBACCO
PART 41: IMPORTATION OF TOBACCO PRODUCTS, CIGARETTE PAPERS AND TUBES, AND PROCESSED TOBACCO
Subpart L: Changes After Original Qualification of Importers
: Changes in Ownership and Control
41.225 - Change in officers, directors, or stockholders of a corporation.
Upon election or appointment (excluding successive reelection or reappointment) of any officer or director of a corporation operating the business of an importer of tobacco products, or upon any occurrence which results in a person acquiring ownership or control of more than ten percent in aggregate of the outstanding stock of such corporation, the importer must, within 30 days of such action, so notify the appropriate TTB officer in writing, giving the identity of such person. In the event that the acquisition of ten or more percent in aggregate of the outstanding stock of such corporation results in a change of control of such corporation, the provisions of ? 41.226 will apply. When there is any change in the authority furnished under ? 41.196 for officers to act on behalf of the corporation the importer must immediately so notify the appropriate TTB officer in writing.
[T.D. ATF-422, 64 FR 71953, Dec. 22, 1999. Redesignated and amended by T.D. TTB-16, 69 FR 52424, 52425, Aug. 26, 2004]
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