Except in the event of the merger, consolidation or reorganization of the licensee, the licensee shall not have the right to assign its rights and privileges under this chapter or to otherwise transfer it in any manner whatsoever, without the prior written approval of the village, pursuant to an ordinance enacted by the corporate authorities. In the event of a transfer or assignment of the licensee's rights and privileges under this chapter, all provisions of this chapter which are obligatory upon, or which inure to the benefit of, the licensee shall also be obligatory upon and shall inure to the benefit of any and all successors and assigns of the licensee.
(Ord. 96-15, passed 4-3-96) Penalty, see § 115.999