HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 42.12.501 Prev     Up     Next    
Rule Title: DEFINITIONS
Add to My Favorites
Add to Favorites
Department: REVENUE
Chapter: LIQUOR LICENSES AND PERMITS
Subchapter: Competitive Bidding Process for Retail Alcoholic Beverage Licenses
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

Printer Friendly Version

42.12.501    DEFINITIONS

The following definitions apply to this subchapter:

(1) "Bidder" means an individual or business entity.

(2) "Competitive bid form" means an electronic form provided by the department and submitted by a bidder, to enter a competitive bidding process.

(3) "Competitive bidding" means a process to select a bidder to submit an application for licensure.

(4) "Irrevocable letter of credit (ILOC)" means a letter of credit between a financial institution and a bidder, in accordance with Title 30, chapter 5, MCA, in which the issuing financial institution guarantees:

(a) the bidder's payment of a stated bid amount;

(b) the ILOC will be irrevocable for a minimum of one year from the date of the competitive bidding closing if the bidder's bid is the highest bid submitted for the available license;

(c) the department is named as beneficiary of the ILOC; and

(d) the financial institution will not modify the ILOC without the department's consent if the bidder's bid is the highest bid submitted for the available license.

(5) "Minimum bid amount" means the lowest acceptable bid amount. The minimum bid amount shall be set by the department at 75 percent of the market value of licenses of the same type and privileges that have sold within the quota area or similar quota area.

(6) "Pivotal straight line" means a line that is created from the center point of two overlapping incorporated cities' or incorporated towns' boundaries and extends outward in a manner that separates the two quota areas as close to equidistant as possible.

 

History: 16-1-303, 16-4-105, 16-4-201, 16-4-204, 16-4-420, MCA; IMP, 16-4-105, 16-4-201, 16-4-204, 16-4-420, 16-4-430, MCA; NEW, 2018 MAR p. 1613, Eff. 8/11/18; AMD, 2019 MAR p. 2385, Eff. 12/28/19.


 

 
MAR Notices Effective From Effective To History Notes
42-1009 12/28/2019 Current History: 16-1-303, 16-4-105, 16-4-201, 16-4-204, 16-4-420, MCA; IMP, 16-4-105, 16-4-201, 16-4-204, 16-4-420, 16-4-430, MCA; NEW, 2018 MAR p. 1613, Eff. 8/11/18; AMD, 2019 MAR p. 2385, Eff. 12/28/19.
42-2-992 8/11/2018 12/28/2019 History: 16-1-303, 16-4-105, 16-4-201, 16-4-204, 16-4-420, MCA; IMP, 16-4-105, 16-4-201, 16-4-204, 16-4-420, MCA; NEW, 2018 MAR p. 1613, Eff. 8/11/18.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security