Md. Code, Alcoholic Beverages and Cannabis § 18-1703
This is the official text of Md. Code, Alcoholic Beverages and Cannabis § 18-1703, part of Maryland’s Code, Alcoholic Beverages and Cannabis — regulates the sale and licensing of alcohol and cannabis.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§18–1703.
Official statutory text
(a) Except as provided in subsection (b) of this section, an applicant for a transfer of license for a corporation or limited liability company shall certify to the Board that the applicant:
(1) is an officer of the corporation or limited liability company;
(2) meets any other qualification for licensing;
(3) owns at least a 20% interest of the stock of the corporation or a 20% interest in the limited liability company; and
(4) will maintain at least 20% of the stock or at least a 20% interest as long as the applicant is the license holder.
(b) The ownership requirement in subsection (a) of this section does not apply to an applicant for a transfer of a Class BLX license on behalf of a corporation or limited liability company in which:
(1) the stock of the corporation or interest in the limited liability company is authorized for sale by the United States Securities and Exchange Commission; or
(2) a majority of the stock of the corporation or interest in the limited liability company is:
(i) owned or controlled directly or indirectly by one or more corporations or limited liability companies; and
(ii) authorized for sale by the United States Securities and Exchange Commission.
(c) An applicant for a transfer of a license for a corporation or limited liability company shall submit to the Board:
(1) an executed copy of the articles of incorporation or articles of organization; and
(2) except as provided in subsection (d) of this section, a schedule that shows:
(i) for each stockholder holding at least 5% of the stock of a corporation, the name, address, and percentage of stock held; or
(ii) for each member holding at least a 5% interest in a limited liability company, the name, address, and percentage of interest held.
(d) The schedule requirement under subsection (c)(2) of this section does not apply if the stock of the corporation or interest in the limited liability company is authorized for sale by the United States Securities and Exchange Commission.
(1) is an officer of the corporation or limited liability company;
(2) meets any other qualification for licensing;
(3) owns at least a 20% interest of the stock of the corporation or a 20% interest in the limited liability company; and
(4) will maintain at least 20% of the stock or at least a 20% interest as long as the applicant is the license holder.
(b) The ownership requirement in subsection (a) of this section does not apply to an applicant for a transfer of a Class BLX license on behalf of a corporation or limited liability company in which:
(1) the stock of the corporation or interest in the limited liability company is authorized for sale by the United States Securities and Exchange Commission; or
(2) a majority of the stock of the corporation or interest in the limited liability company is:
(i) owned or controlled directly or indirectly by one or more corporations or limited liability companies; and
(ii) authorized for sale by the United States Securities and Exchange Commission.
(c) An applicant for a transfer of a license for a corporation or limited liability company shall submit to the Board:
(1) an executed copy of the articles of incorporation or articles of organization; and
(2) except as provided in subsection (d) of this section, a schedule that shows:
(i) for each stockholder holding at least 5% of the stock of a corporation, the name, address, and percentage of stock held; or
(ii) for each member holding at least a 5% interest in a limited liability company, the name, address, and percentage of interest held.
(d) The schedule requirement under subsection (c)(2) of this section does not apply if the stock of the corporation or interest in the limited liability company is authorized for sale by the United States Securities and Exchange Commission.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.