HomeMy WebLinkAbout31- City Clerk's Office CITY OF SAN BE[ IARDINO - REQUEST =OR COUNCIL ACTIOI
From: Rachel Clark, City Clerk Subject: Ordinance of the City of San Bernardino
adding Section 5.04.026 to the San
Dept: City Clerk's Office Bernardino Municipal Code relating to
transfers of stock or partnership in-
Date: March 14, 1995 terests for the purposes of transfers of
business registration certificates.
Synopsis of Previous Council action:
Previously, an ordinance has been presented to the Ccmmn Council for
authorization to xrend certain portions of Title 5 of the Municipal Code.
DMIP° . 1 .Ft?tnay
15 LIAP 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 Registration Supervisor Phone: 3200
Supporting data attached: Staff Report and Ordinance Ward:
FUNDING REQUIREMENTS: Amount: -0-
Source: (Acct No.)
(Acct Description
Finance:
r
Council Notes:
7502 62 _ -y15 -,Agenda Item No
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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.
i
I
1 ORDINANCE NO.
2 AN ORDINANCE OF THE CITY OF SAN BERNARDINO ADDING SECTION
5.04.026 TO THE SAN BERNARDINO MUNICIPAL CODE RELATING TO
3 TRANSFERS OF STOCK OR PARTNERSHIP INTERESTS FOR THE PURPOSES OF
4 TRANSFERS OF BUSINESS REGISTRATION CERTIFICATES.
5 THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO
DO ORDAIN AS FOLLOWS:
6
7 SECTION 1. Section 5.04.026 is hereby added to the San
8 Bernardino Municipal Code to read as follows:
9 "5.04.026 Transfers of stock or partnership
interest.
10
( a) Any business registration certificate or any
11 permit issued or granted pursuant to this title is a
privilege to be held by the original permittee or
12 certificate holder thereof. It cannot be sold,
transferred, assigned or disposed of, in whole or in
13 part, or by voluntary sale, merger, consolidation or
otherwise.
14
(b) In the event a permittee or certificate
15 holder is a corporation, a new permit or certificate
shall be required when there is an actual change in
16 control or when ownership of more than fifty percent
( 50%) of the voting stock of the permittee or
17 certificate holder is acquired by a person or group of
persons acting in concert, none of whom already own
18 fifty percent ( 50%) or more of the voting stock,
19 singly or collectively.
(c) In the event a permittee or certificate
20 holder is a partnership, a new permit or certificate
shall be required when there is an actual change in
21 control or when ownership of fifty percent ( 50%) or
more of the capital or profits of the permittee or
22 certificate holder is acquired by a person or group of
persons acting in concert, none of whom already own
23 fifty percent ( 50%) or more of such capital or
24 profits, singly or collectively. "
25
26
27
28
DAB/js [Transfer.Ord] 1
March 23, 1995
1 AN ORDINANCE ADDING SECTION 5.04.026 TO THE SAN BERNARDINO
2 MUNICIPAL CODE RELATING TO TRANSFERS OF STOCK OR PARTNERSHIP
INTERESTS FOR THE PURPOSES OF TRANSFERS OF BUSINESS REGISTRATION
3 CERTIFICATES.
4 I HEREBY CERTIFY that the foregoing Ordinance was duly
5 adopted by the Mayor and Common Council of the City of San
6 Bernardino at a meeting thereof, held on the
7 day of 1995, by the following vote, to wit:
Council Members: AYES NAYS ABSTAIN ABSENT
8
NEGRETE
9
CURLIN
10
HERNANDEZ
11
OBERHELMAN
12
DEVLIN
13
POPE-LUDLAM
14
MILLER
15
16
17 City Clerk
18
The foregoing Ordinance is hereby approved this day
19
of 1995.
20
21 Tom Minor, Mayor
City of San Bernardino
22
Approved as to form
23 and legal content:
24 JAMES F. PENMAN,
City Attorney
25
26 By:
27
28
DAB/js [Transfer.Ord] 2 February 13, 1995