No entertainment establishment license shall be sold, transferred, or assigned by any license holder, or by operation of law, to any other person, group, partnership, corporation or any other entity, and any such sale, transfer or assignment, or attempted sale, transfer, or assignment shall be deemed to constitute a voluntary surrender of such license, and such license shall be thereafter null and void. A license held by an individual in the name of a corporation or partnership is subject to the same rules of transferability as contained above. License shall be valid only for the exact location specified in the permit. Each license shall be posted in a conspicuous place in or upon the premises for which it is issue, and shall be shown to any City Official upon demand.