(A) A license shall be purely a personal privilege, good for a period not to exceed one year after issuance, unless sooner revoked as provided in this chapter, 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. The license shall cease upon the death of the licensee; provided, that executors or administrators of the estate of any deceased licensee, and the trustee of any insolvent or bankrupt licensee, when the estate consists in part of alcoholic liquor may continue the business of the sale or manufacture of alcoholic liquor under order of the appropriate court, and may exercise the privileges of the deceased or insolvent or bankrupt licensee after the death of the decedent, or the insolvency or bankruptcy until the expiration of the license but not longer than six months after the death, bankruptcy or insolvency of the licensee.
(B) In the case of a corporate licensee or limited liability company, the prohibition against or transferability shall not be applicable to a sale, gift, transfer, pledge or assignment of the corporate stock or LLC membership or the issuance by the corporation of stock in the corporation or interest in the LLC to a person or persons or other legal entity owning 5% or more of the stock of the corporation or interest in the LLC at the time of issuance of the present liquor license to the corporation. All corporations and limited liability companies licensed hereunder must report in writing within 30 days of a corporate or membership change to the Village Clerk, all internal changes pertaining to officers, manager, members and stockholders.
(Ord. 1096, passed 7-11-2018)