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After a license has been granted for a particular premises, the Local Liquor Control Commissioner, upon application by the licensee, may endorse upon the license permission to abandon the premises thereon described and to remove the license to other premises approved by him and described in the endorsement. The application for transfer shall be in writing under oath and shall fully describe the new premises. The reasons for transfer shall be given and it shall be shown that the new premises comply in all respects with the requirements of this chapter and the ILCS Ch. 235, as amended from time to time.
('73 Code, § 34.10)