No license issued under this chapter may be transferred without the approval of the City Council. Any transfer of stock of a corporate licensee resulting in a change in the principal owners is deemed to be a transfer of the license, and such a transfer of stock without prior City Council approval is a ground for revocation of the license. An application to transfer a license shall be treated the same as an application for a new license, and all of the provisions of this chapter applying to applications for a license shall apply.
(Ord. 223, passed 1-21-2003)