A retailer licensed under Tenn. Code Ann. §§ 57-3-204, 57-3-803, or 57-4-101 that sells or closes its licensed establishment may sell or transfer its alcohol inventory to the purchaser of the establishment or to another licensed establishment. The purchaser or establishment receiving the inventory must hold the same type of license held by the seller. The following requirements must be met prior to the completion of the inventory transfer or sale:
- The seller must provide the Alcoholic Beverage Commission and Department of Revenue with written notice at least 10 days prior to the sale or transfer of the inventory. The written notice must identify the person or entity receiving the inventory, the date of the sale or transfer, and the quantity, types, and brands of alcohol being sold or transferred.
- Invoices and debts relating to the alcoholic beverages or wine sold or transferred must be paid in full prior to the sale or transfer.
- The purchaser or transferee must be licensed prior to the completion of the sale or transfer.
Reference: Public Chapter 76 (2021). Tenn. Code Ann. §§ 57-3-204, 57-3-803, and 57-4-101.