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CITY OF SAN BER[ '%RDINO - REQUEST '111 COUNCIL ACTIO1
From: Rachel Clark, City Clerk Subject: Ordinance of the Citv of San Bernardino
addling Section 5.04.026 to the San
Bernardino Municipal Code relating to
.pt: City Clerk's Office transfers of stock or partnership in-
terests for the purposes of transfers of
Date: march 14, 1995 business registration certificates.
Synopsis of Previous Council action:
Previously, an ordinance has been presented to the Common Council for
authorization to amend certain portions of Title 5 of the Municipal Code.
5 UP 91, 3 t '
Recommended motion:
That further reading of said ordinance be waived and that it be laid over
for final adoption.
Signature
Contact person: Lee Gagnon, Business Reqistration Supervisor Phone: 3200
Supporting data attached: Staff Report and Ordinance Ward:
FUNDING REQUIREMENTS: Amount: -0-
Source: (Acct No.)
(Acct Description)
Finance:
ouncil Notes: �r
Agenda Item No. °'��
STAFF REPORT
The City Attorney's Office has recommended an amendment to
Section 5. 04 . 026 relating to transfers of stock or partnership
interests for the purposes of transfers of business registration
certificates. Currently, all business registration certificates
issued under Title 5 are non-transferable, however there is no
specific provision deeming a corporate stock transfer or similar
transaction a "transfer" of a business.