(A) No license issued under this chapter may be transferred to any other person, partnership, corporation or association.
(B) No corporate licensee shall permit any transfer of its stock which would vest in aggregate more than five percent (5%) of the stock outstanding in said corporation in any shareholder unless said shareholder has first been certified by the city clerk as meeting the requirements of section 3-2-5-6 of this chapter. (Ord. 1114, 8-19-1986)