A. Except as provided herein, a license shall automatically terminate upon the death, dissolution, or the insolvency of the licensee; upon the sale or transfer of any interest in the license by an individual or club licensee; upon the sale or transfer or assignment of more than fifty percent (50%) of the outstanding shares of a corporation or interest in any partnership holding a license; or upon the filing of a petition for adjudication of bankruptcy by or as to the estate of the licensee. A transfer of a deceased licensee's interest to a father, mother, brother, sister, husband, wife, son, or daughter shall be permitted; provided, that such person meets all qualifications required to hold the license and shall be bound by all conditions of the license.
B. In the event of the death of a licensee, the executor of the will or administrator of the estate of any deceased licensee pursuant to the appropriate court order, or if none, the spouse or any child of the licensee upon the written approval of the commissioner, may exercise the privileges of the deceased licensee until the expiration of such license or until six (6) months after the death of the licensee, whichever is the shorter period of time, provided such person meets all qualifications required to hold the license and shall be bound by all conditions of the license.
C. 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 order of the appropriate court, and may exercise the privileges of the insolvent or bankrupt licensee until the expiration of such license but not longer than six (6) months after the bankruptcy or insolvency of such licensee, whichever is the shorter period of time, provided such trustee meets all qualifications required to hold the license and shall be bound by all conditions of the license.
D. No refund shall be made of any portion of the license fees paid for any period in which the licensee shall be prevented from operating under such license in accordance with the provisions of this chapter.
E. Upon the termination of a license pursuant to subsection A or B of this section, the successor in interest may apply for the issuance of the license pursuant to this chapter and shall pay all applicable initial application and license fees.
F. A licensee whose license has not been terminated prior to the expiration of its term may apply for the renewal of the license at the expiration thereof, provided he is then qualified to receive a license and the premises for which such renewal license is sought is suitable for such purpose. However, the renewal privilege herein provided shall not be construed as a vested right which shall in any case prevent the corporate authorities from decreasing the number of licenses to be issued within its jurisdiction. (Ord. 13-22, 6-4-2013)