Application to transfer any license issued pursuant to this chapter shall be made to the clerk. Upon receipt of such application, the same investigation and determinations with respect to the transferee as are required by the original license holder shall be made, and if the council shall determine that all of the conditions required of an original licensee hereunder have been met by the proposed transferee, the said license shall be transferred for the remainder of the period for which such license has been issued, and the approval of the council shall be endorsed thereon by the mayor and the city clerk. (1976 Code)