Must a limited liability company licensed by ABC report ownership changes to ABC?
Yes. It must report to ABC, in writing, any of the following: (1) Issuance or transfer of memberships to any person where the issuance or transfer results in the person owning 10 percent or more of the voting interests of the company; (2) Any change in the manager or managers of the company, if the limited liability company is managed by a manager or managers; or (3) Any change in the officers of the company, if any officer has been appointed. The report shall be filed with ABC within 30 days after the issuance or transfer of membership voting interests, or any change in members, managers, or officers. When the ownership of 50 percent or more of the membership interests in a limited liability company is to be transferred, a transfer of the limited liability company's license is now required. The fee for such license transfer shall be 50 percent of the original fee for the license, minimum $100 and maximum $800. The transfer must comply with all applicable laws and rules. (Sections 23405.2 and 24071.2)