No license issued pursuant to this chapter shall be transferable, except, however, that upon application therefor and payment of a fee of five dollars, such a license may be transferred as follows:
A. To another entity which in respect to control and ultimate ownership is substantially the alter ego of the licensee; and
B. To another location to which the business has been or is to be moved.
(Prior code § 5.04.180 (Ord. 513, 1961: Ord. 494 § 15, 1960))