(A) A cannabis retail sales license shall be purely a privilege, good for a period not to exceed one year unless revoked according to law, and shall not constitute property, or be subject to attachment, garnishment or execution, or be alienable, assignable, transferable or subject to encumberment, and shall cease upon the death, or insolvency or cessation of operation of the licensee or the filing for bankruptcy protection.
(B) A licensee shall not enter into any agreement with a person or entity, whether it be a lease, management or other agreement, that would allow the person or entity to utilize the license in the operation of the person's or entity's business wherein the licensee maintains an interest of any kind whatsoever in the license.
(C) If a licensee's business is inactive for a period of three consecutive months, the license shall become null and void. For the purposes of this section, the word INACTIVE shall mean that the business has ceased operating or is not open to the public.
(Ord. 1842, passed 2-4-2020)