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Bankruptcy Court Rules That Liquor License Is Not Lienable As "Personal Property" Under California Law

LexisNexis (May 3, 2018, 10:41 AM EDT) -- Can a liquor license be the subject of an enforceable security interest under Article 9 of the UCC? A recent bankruptcy court decision concludes that a California statute (Business & Professions Code § 24076) prohibits the use of a liquor license as collateral for a loan.  In re Delano Retail Partners, LLC, 2017 Bankr. LEXIS 2397, 93 UCC Rep. 2d 472 (E.D. Calif. 8/14/17).  The statute states: "No licensee shall enter into an agreement wherein he pledges the transfer of his license as security for a...
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