28-5743
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28-5743. Discontinuance of business A. If a person ceases to be a licensee by reason of discontinuance, sale or transfer of the person's business at any location: 1. The person shall: (a) Notify the director in writing at the time the discontinuance, sale or transfer takes effect. (b) Give the director the date of discontinuance. (c) If there is a sale or transfer of the business, give the director the name and address of the purchaser or transferee. 2. All taxes, penalties and interest not yet due and payable under this article, notwithstanding this article, are due and payable concurrently with the discontinuance, sale or transfer. 3. The licensee shall: (a) Make a report. (b) Pay all taxes, fees, penalties and interest. (c) Surrender to the director the license certificate issued to the licensee and all duplicates of a valid license. B. Unless the notice prescribed in subsection A has been given to the director, the seller and the seller's surety are liable for the tax, fees, penalties and interest accruing against the transferee, but only to the extent of the value of the property transferred. |