California CodesBusiness and Professions Code - BPCDivision 9 — Alcoholic BeveragesChapter 2 — Authorized Unlicensed Transactions and ExemptionsSection 23101
Any bank, trust company, or financial institution owning or possessing alcoholic beverages or warehouse receipts therefor as security for an obligation or as a result of enforcement of a security interest may, after permission has been given by the department, sell the alcoholic beverages or warehouse receipts to a licensee authorized to sell for resale such alcoholic beverages or such warehouse receipts.
Notes
Allows a bank, trust company, or financial institution holding alcoholic beverages or warehouse receipts as security for an obligation or through enforcement of a security interest to sell them after obtaining department permission. Limits the sale to a licensee authorized to sell the beverages or receipts for resale.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 23101 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-9/chapter-2/section-23101