27 CFR § 1.42 - Change in ownership, management, or control of business.

---
identifier: "/us/cfr/t27/s1.42"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "27 CFR § 1.42 - Change in ownership, management, or control of business."
title_number: 27
title_name: "Alcohol, Tobacco Products and Firearms"
section_number: "1.42"
section_name: "Change in ownership, management, or control of business."
chapter_name: "ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "ALCOHOL"
part_number: "1"
part_name: "BASIC PERMIT REQUIREMENTS UNDER THE FEDERAL ALCOHOL ADMINISTRATION ACT, NONINDUSTRIAL USE OF DISTILLED SPIRITS AND WINE, BULK SALES AND BOTTLING OF DISTILLED SPIRITS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "27 U.S.C. 203, 204, 206, 211 unless otherwise noted."
regulatory_source: "T.D. ATF-373, 61 FR 26098, May 24, 1996, unless otherwise noted."
cfr_part: "1"
---


# 1.42 Change in ownership, management, or control of business.

In the event of any change in the ownership, management, or control of any business operated pursuant to a basic permit (if the permittee is a corporation, if any change occurs in the officers, directors, or persons owning or controlling more than 10 percent of the voting stock of said corporation) the permittee shall immediately notify the appropriate TTB officer of such change, giving the names and addresses of all new persons participating in the ownership, management, or control of such business, or in the case of a corporation, the names and addresses of such new officers, directors, or persons owning or controlling more than 10 percent of the voting stock. Notice to the appropriate TTB officer of any such change shall be accompanied or supplemented by such data in reference to the personal or business history of such persons as the appropriate TTB officer may require.