| Purpose/Objective of Rule |
To create a new regulation that conforms to the requirements of Senate Bill 10-083, which requires the state licensing authority to enforce the prohibition of a licensed supplier extending credit for more than 30 days on the sale of alcohol beverages to a retailer, pursuant to 27 CFR Part 6; and, to allow the authority to adopt rules regulating or prohibiting the sale of alcohol beverages on credit, where the credit is offered or extended for more than thirty days, consistent with the federal regulations. Senate Bill 10-083 became effective on August 11, 2010. The regulation establishes restrictions, standards, and guidelines for applicable licensees, to ensure compliance with the statutory prohibition. |