No licensee may assign, sell or transfer his license to any other person, even if such other person intends to conduct the same business, occupation or activity as the licensee at the location used by the licensee. The license is issued to the premises described therein and for no other location. Such other person must apply and pay the fee for a new license in accordance with the provisions of this subchapter. (Ord. 1068, passed 11-2-81) Penalty, see § 111.99