A. A permit issued under this Article may not be transferred or assigned. Any such transfer or assignment shall be void and the attempted assignment shall result in the revocation of the permittee's permit.
B. For purposes of this section, "transfer" or "assignment" shall include, but not be limited to (i) a sale, exchange or other transfer of substantially all of permittee's assets dedicated to service under this chapter to a third party; (ii) a sale, exchange or other transfer of ten percent (10%) or more of the outstanding common stock of permittee; (iii) any reorganization, consolidation, merger, recapitalization, stock issuance or re-issuance, voting trust, pooling agreement, escrow arrangement, liquidation or other transaction to which permittee or any of its shareholders is a party which results in a change of ownership or control of ten percent (10%) of more of the value or voting rights in the stock of permittee; and (iv) any combination of the foregoing (whether or not in related or contemporaneous transactions) which has the effect of any such transfer or change of ownership. For purposes of this section, the term "proposed assignee" shall refer to the proposed transferee(s) or other successor(s) in interest pursuant to the assignment.
(Ord. 701-2000, § 1(part)).