(A)   A license or permit shall be purely a personal privilege, good for not to exceed the designated expiration, unless sooner revoked as in this chapter provided, and shall not constitute property, nor shall it be subject to attachment, garnishment or execution, nor shall it be alienable or transferable, voluntarily or involuntarily, or subject to being otherwise encumbered.
   (B)   Such license or permit shall cease upon the death, insolvency or bankruptcy of the licensee or permittee ("event") and shall not descend by the laws of testate or intestate devolution, provided that executors or administrators of the estate of any deceased licensee or permittee, the trustee of any insolvent or bankrupt licensee or permittee, or any other legal successor to the licensed or permitted business, may request the village for an extension of the license or permit for its remaining term. Such request shall be in writing and directed to the village manager, and shall include information as to the specific event and any related court pleadings and orders, and the qualifications of the proposed successor to operate the licensed business or activity.
   (C)   The village manager shall have the authority to grant or deny the extension of the license or permit for its remaining term to the proposed successor upon reasonable terms and conditions, based upon applicable village code licensing standards, and an assessment of the experience, moral character and reputation of the proposed successor. The village manager shall advise the proposed successor within thirty (30) days of receipt of notice of the denial or grant of extension, and of any conditions attached to the grant of extension.
   (D)   During the period from the event to the receipt of the village manager's notice of the grant or denial of extension, in order to protect the viability of the business entity, the licensed or permitted business or activity may continue in operation for such temporary period. Upon receipt of a denial of extension, the license or permit shall be considered as terminated, and the person(s) having responsibility for the business or commercial operations or otherwise operating the business shall immediately cease operations and close the business.
   (E)   Any denial of extension shall be deemed final and not subject to appeal to the village, provided, however, that any person having an ownership interest in the business or commercial activity may submit an original application for a business license or permit in his or her own name. (Ord. 2506, 8-16-2004)