(A) When a license has been issued to a partnership and a change of ownership occurs, resulting in the creation of a partnership interest in a person who is not eligible to receive a liquor license, the license shall thereby be terminated.
(B) When a license has been issued to a corporation and a change takes place as to officers, directors, or of shareholders holding more than 5% of the stock, or in a manager resulting in the holding of office, or if a change takes place in the transfer of shares to one who is not eligible for a license, the license shall thereby terminate.
(C) When a license has been issued to an individual who becomes ineligible to receive a license, the license theretofore issued to the individual shall thereby terminate.
(D) In the case of a license issued to a corporation or partnership, the transfer of more than 30% of the ownership interest of the original stockholders or original members of the partnership to a person with no ownership interest in the corporation or partnership at the time of the transfer, the transfer or transfers, shall constitute the basis for a new license application, and the initial license fee shall then be payable.
(E) Any licensee who ceases to do business for whatever reason, or who closes his or her place of business for whatever reason for a period in excess of 45 days, should notify the Commissioner in writing of the same. The licensee may be required by the Liquor Control Commissioner, after receipt of notice of a hearing, to show cause why the license for the establishment should not be terminated.
(Ord. passed 6-14-2005; Ord. passed 8-13-2013)