§ 112.07  TRANSFER BUSINESS; LICENSE.
   (A)   Forfeit of license fee.  In the event that any person to whom a license has been issued by the village authorizing the retail sale of alcoholic liquor, sells the retail liquor establishment prior to the termination and expiration date of the license, the license fee shall be forfeited to the village.  In the event that 51% or more of the capital stock of any corporation to which a license has been issued by the village authorizing the retail sale of alcoholic liquor, is sold or transferred prior to the termination and expiration date of the liquor license, the fee paid in advance for the license by the corporation shall be forfeited to the village.  The president of the corporation to which a license has been issued by the village authorizing the retail sale of alcoholic liquor shall notify the President of the village of the sale or transfer of 51% or more of the capital stock of the corporate licensee, the notification to be given to the President within three days of the sale or transfer of the capital stock.
   (B)   Transferability; renewal.
      (1)   A license shall be purely a personal privilege good for a period not to exceed one year after issuance unless sooner revoked as in this subchapter provided, 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 not descend by the laws of testate 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 estate consists in part of the alcoholic liquor, under order of the appropriate court, 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.  A refund shall be made of that portion of the license fees paid for any period in which the licensee shall be prevented from operating under the license in accordance with the provisions of this division. Any licensee may renew his or her license at the expiration thereof, provided he or she is then qualified to receive a license and the premises for which the renewal is sought is suitable for the purpose; and provided, further, that the renewal privilege herein provided for shall not be construed as a vested right, which shall in any case prevent the President from decreasing the number of licenses to be issued within his or her jurisdiction.
      (2)   On the sale of any business licensed under this subchapter, the President may, upon surrender of the original license, issue a new license to the vendee thereof for the unexpired period of the original license; provided, however, that the vendee shall first comply with all the laws of this state and the ordinances of the village relating to the retail sale of alcoholic liquor.
(1983 Code, § 3-2A-6)