(A) When authorized. A licensee hereunder shall have the right to transfer his or her license to another person provided he or she shall:
(1) Approval of License Officer. Obtain written permission from the License Officer for the transfer;
(2) Method of transfer. Execute the transfer in the form and under the conditions required by law and as prescribed by the License Officer;
(3) Notification. Promptly report the completed act of transfer to the License Officer; and
(4) Surrender license. Promptly surrender any license certificate and when required by the License Officer, all licensing insignia.
(B) New license issued. Upon the completion of a transfer of license in compliance with division (A) above, the License Officer shall issue a new license and insignia to the transferee for the unexpired term of the old license.
(1) Effect of new license. The new license issued hereunder shall authorize the transferee to engage in the same business at the same location or at another place as shall be approved by the License Officer and named in the new license.
(2) Transfer fee. The License Officer shall collect a transfer fee from the transferee prior to the issuance of the new license.
(Prior Code, § 11-109)