A license shall be purely a personal privilege, valid for a period not to exceed one (1) year, unless sooner revoked as in this chapter provided, and the same 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 be subject to being encumbered or hypothecated. Such license shall cease upon the death or dissolution of the licensee and shall not descend by the laws of testate or intestate devolution; provided, that executors or administrators of the estate of any deceased licensee and the trustee of any insolvent or bankrupt licensee, which such estate consists in part of alcoholic liquor, may continue the business of the sale of alcoholic liquor under the order of the appropriate court and may exercise the privileges of the deceased or insolvent or bankrupt licensee after the death of such decedent or dissolution of a business entity or such insolvency or bankruptcy until the expiration of such license but not longer than six (6) months after the death, dissolution, bankruptcy or insolvency of such license. A refund shall be made of that portion of the license fee paid for any period in which the licensee shall be prevented from operating under the license in accordance with the provisions of this section. (Ord. 09-1561, 11-24-2009, eff. 1-1-2010)