(A) The owner of a license to keep a place where alcoholic liquor is sold or offered for sale has the right to a renewal or reissue of the license at the same or different place of business in compliance with the laws of the state, and upon compliance with the provisions of this chapter.
(B) The licensee may assign or convey his or her right to the renewal or reissue thereof to any person who, upon compliance with the laws of the state relating thereto and this chapter, shall be entitled to a renewal or reissue of the license in his or her own name.
(C) Each holder of a license, in turn, may assign or convey the right of renewal or reissue upon the same terms and conditions as the original owner could do.
(D) The privileges of renewal or reissue shall continue as long as the license is kept in force continuously and uninterruptedly, in the name of the licensee or his or her successor in interest.
(E) No license to keep a place where liquor is sold or given away shall be hereafter issued to a firm, except to the individual members of the firm. Nothing in this chapter shall be construed to deny a new license to the owner, tenant or lessee of any premises lawfully occupied and used as and for a place where alcoholic liquor is sold on January 23, 1934.
(1994 Code, § 21-2-12)