A. Any license issued hereunder shall embrace only one place of business.
B. A retail liquor dealer's license shall be a purely personal privilege, good for a period not to exceed one year after issuance (unless sooner revoked or terminated as herein provided), and shall not constitute property; nor shall it be subject to attachment, garnishment or execution; nor shall it be alienable or transferable, voluntarily or involuntarily, or subject to being encumbered or hypothecated.
C. Such license shall cease and terminate upon the death of the licensee and shall not descend by the laws of intestate succession or be transferable by testamentary disposition; provided, however, that the executor or administrator of the estate of any deceased licensee, and the trustee of any insolvent or bankrupt licensee, when such estate consists in part of alcoholic liquor, may continue the business of the sale of alcoholic liquor under the order of a court of competent jurisdiction, and may exercise the privileges of the deceased or insolvent or bankrupt licensee after the death of such decedent, or such insolvency or bankruptcy, until the expiration of such license, but in no event for a period longer than six (6) months after the death, bankruptcy, or insolvency of such licensee.
D. Any change made with respect to ownership of any share of stock of a corporation which is a licensee shall be reported immediately to the local liquor control commissioner.
E. Each license issued pursuant to this chapter shall be subject to any and all amendments to this chapter which may be hereafter enacted, and any and all rules adopted by the local liquor control commissioner. (2006 Code § 3-2-15)