No license issued under this chapter may be transferred without the approval of the council. Any transfer of stock of a corporate licensee is deemed to be a transfer of the license, and a transfer of stock without prior council approval is a ground for revocation of the license. An application to transfer a license shall be treated the same as an application for a new license, and all of the provisions of this chapter applying to applications for a license shall apply. (Ord. 126, 4-11-2005)