A license shall be purely a personal privilege, good for 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. Such license shall not descend by the laws of the state or intestate devolution, but 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, which such estate consists in part of alcoholic liquor, under the order of the appropriate court, may exercise the privileges of the deceased or insolvent or bankrupt licensee after the death of such decedent or such insolvency or bankruptcy until the expiration of such license, but no longer than six (6) months after the death, bankruptcy or insolvency of such licensee. (Ord., 11-14-1995)