No permit or franchise which is authorized by, subject to, or issued under the provisions of this chapter shall be transferred, delegated, sublet, subcontracted to or assigned to another person without the prior approval of the city council. This restriction includes the transfer of ownership or the majority of the ownership or control of the permittee or the franchisee, and the transfer of a majority of the permittee’s or franchisee’s stock to another person.
(Ord. 671 § 1 (part), 1992)