(A) A license issued under this subchapter shall be transferable, except where provided otherwise, only where the business for which the license was issued has been sold or disposed of, but is to be continued by the purchaser or transferee at the same or at some other location within the town. In no case shall the license transfer be legal or valid unless and until notice in writing be given to the Clerk/Treasurer. The notice shall contain the name, trade name, if any, and the address of the proposed transferee, the proposed new location, if any, and the time of proposed transfer. Failure to notify the Clerk/Treasurer of the transfer of the license within 30 days after the transfer shall invalidate the license. The Clerk/Treasurer shall give written approval of the transfer of the license, if the transfer is approved.
(B) It is specifically provided, however, that if the transferor’s license for the current license year has been based on an estimate of gross receipts, or gross expenditures, the transferor shall reveal his or her gross receipts or gross expenditures for the period he or she was in business during the current license year and, if the accumulation of gross receipts by transfer shall exceed the original estimate, the transferee shall be required to amend the license by an estimate of the gross receipts or gross expenditures he or she will incur between the day of beginning business and the end of the current license year.
(C) The Clerk/Treasurer shall keep a record of all license transfers. No person shall transfer or attempt to transfer a license contrary to the provisions of this section.
(D) The Clerk/Treasurer shall collect $10 for each license transfer, which sum shall be used to pay administrative costs incurred by the license transfer.
(1997 Code, § 18-48) (Ord. passed 5-31-1983)