(1) No brewer or distributor shall be interested in any manner, either directly or indirectly, in the ownership or leasehold of any property or in any mortgage against the property for which a retail license is issued, nor shall a brewer or distributor either directly or indirectly lend any moneys, credit or the equivalent thereto to any retailer in equipping, fitting out or maintaining and conducting either in whole or in part a malt beverage retail establishment or business. (2) Subsection (1) shall not apply to the interest of a brewer or distributor in any mortgage or other lien taken by him to secure the payment in whole or part of any indebtedness due him by any other licensee and incurred prior to March 7, 1938. It shall not prohibit a distributor from owning stock in a brewery.
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