No retail license shall be issued by the Mayor to the following:
(A) A person who is not a resident of the municipality;
(B) A person who is not a citizen of the United States;
(C) A person who has been convicted of a felony under any federal or state law if the Mayor determines, after investigation, that the person has not been sufficiently rehabilitated to warrant the public trust;
(D) A person who has been convicted of being the keeper of or is keeping a house of ill-fame;
(E) A person who has been convicted of pandering or other crime or misdemeanor opposed to decency or morality;
(F) A person whose license has previously been revoked for cause;
(G) A person who, at the time of the application for renewal for any license issued hereunder, would not be eligible for the license upon first application;
(H) A co-partnership, if any general partnership thereof or any limited partnership thereof, owning more than 5% of the aggregate limited partner interest in the co-partnership would not be eligible to receive a license hereunder for any reason;
(I) A corporation, if any officer, manager or director thereof or any stockholder owning in the aggregate more than 5% of the corporation, would not be eligible to receive a license hereunder for any reason other than the requirement for citizenship and residence;
(J) A corporation unless it is incorporated in the state or unless it is a foreign corporation which is qualified under the “Business Corporation Act of 1983” (ILCS Chapter 805, Act 5, § 1.01) to transact business in the state;
(K) A person whose place of business is conducted by a manager or agent unless the manager or agent possesses the same qualifications required by the licensee;
(L) Any person, association or corporation not eligible for a state retail liquor license;
(M) A person who is not of good character and reputation in the community in which he or she resides;
(N) A person who has been convicted of a violation of any federal or state law concerning the manufacture, possession or sale of alcoholic liquor, subsequent to the passage of this code or has forfeited his or her bond to appear in court to answer charges for any violation;
(O) A person who does not own the premises for which a license is sought, or does not rent nor have a lease thereon for the full period for which the license is to be issued;
(P) Any law enforcing public official, including members of local liquor control commissions, any Mayor, alderperson or member of a city council or commission, any president of a village board of trustees, any member of a village board of trustees or any president or member of a county board; (No official shall be interested directly in the manufacture, sale or distribution of alcoholic liquor, except that license may be granted to the official in relation to premises which are not located within the territory subject to the jurisdiction of that official if the issuance of the license is approved by the State Liquor Control Commission and the Mayor.)
(Q) A person who is not a beneficial owner of the business to be operated by the licensee;
(R) A person who has been convicted of a gambling offense as prescribed by ILCS Chapter 720, Act 5, § 28-1(a)(3) through (a)(10) or as prescribed by ILCS Chapter 720, Act 5, § 28-3, as heretofore or hereafter amended, or as proscribed by a statute replaced by any of the aforesaid statutory provisions;
(S) A person to whom a federal wagering stamp has been issued by the federal government for the current tax period;
(T) A co-partnership to which a federal wagering stamp has been issued by the federal government for the current tax period, or if any of the partners have been issued a federal gaming device stamp or federal wagering stamp by the federal government for the current tax period;
(U) A corporation, if any officer, manager or director thereof, or any stockholder owning in the aggregate more than 20% of the stock of such corporation has been issued a federal wagering stamp for the current tax period;
(V) Any premises for which a federal wagering stamp has been issued by the federal government for the current tax period.
(`92 Code, § 21-2-4)