When the business of a distributor or exhibitor is sold or otherwise transferred, the license of such distributor or exhibitor may be transferred to the transferee with the consent of the City Manager, for the remainder of the license period if the latter is satisfied that the successor would be eligible to receive a new license. The transfer of an exhibitor's license shall carry with it the transfer of the pinball machine licenses issued to him, and this shall be noted on the books of the City Manager and upon the license stamps issued for the pinball machines.
('67 Code, § 110.99; Am. Ord. 28-1981, passed 10-7-81)