A. Any business registration certificate or any permit issued or granted pursuant to this title is a privilege to be held by the original permittee or certificate holder thereof. It cannot be sold, transferred, assigned or disposed of, in whole or in part, or by voluntary sale, merger, consolidation or otherwise.
B. In the event a permittee or certificate holder is a corporation, a new permit or certificate shall be required when there is an actual change in control or when ownership of more than fifty percent (50%) of the voting stock of the permittee or certificate holder is acquired by a person or group of persons acting in concert, none of whom already own fifty percent (50%) or more of the voting stock, singly or collectively.
C. In the event a permittee or certificate holder is a partnership, a new permit or certificate shall be required when there is an actual change in control or when ownership of fifty percent (50%) or more of the capital or profits of the permittee or certificate holder is acquired by a person or group of persons acting in concert, none of whom already own fifty percent (50%) or more of such capital or profits, singly or collectively.
(Ord. MC-936, 4-18-95)