California CodesBusiness and Professions Code - BPCDivision 9 — Alcoholic BeveragesChapter 5 — Restrictions on Issuance of LicensesArticle 1 — In GeneralSection 23778
A distilled spirits wholesaler’s license shall not be held by any person unless at all times throughout the license year he has on his wholesale premises a reasonable stock of distilled spirits, as determined by the department, for which he has fully paid lawful money or its equivalent.
Notes
Requires every holder of a distilled spirits wholesaler’s license to maintain, throughout the entire license year, a reasonable stock of distilled spirits on the wholesale premises, with reasonableness determined by the department. The wholesaler must have fully paid for that stock in lawful money or its equivalent, with no stated grace period or exception.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 23778 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-9/chapter-5/article-1/section-23778