Bill > HB2565

This bill modifies Oklahoma's laws regarding alcoholic beverage licensing and partnership structures, with two primary focuses. First, it amends regulations for retail spirits licenses, now explicitly allowing limited partnerships and limited liability partnerships (LLPs) to hold such licenses, with the important caveat that each partner must be a natural person and the partnership cannot be owned by a corporation, limited liability company, or other types of partnerships. The bill also clarifies that when an existing retail spirits licensee wants to convert from a limited partnership to a limited liability partnership, they can do so without reapplying for a license or suspending operations, provided they notify the Alcoholic Beverage Laws Enforcement (ABLE) Commission within 90 days of the conversion. Secondly, the bill addresses the legal classification of limited liability partnerships, explicitly stating that no state officer, agency, board, or commission can declare an LLP to be similar to a limited liability company, and affirming that an LLP is a distinct form of partnership subject to partnership laws. The changes aim to provide more flexibility for business structures in the alcoholic beverage industry while maintaining regulatory oversight, and will become effective on November 1, 2025.

Business and Industry

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2565&Session=2600