Every license issued under this chapter shall be a personal privilege and shall not be assignable, except that when any business carried on at a fixed place designated in the license issued therefor is sold as a unit to any person and the purchaser thereof is to carry on the business at the same place, the license for the business may be assigned to the purchaser who, upon delivery of the license properly assigned to the tax collector, together with a written and signed statement that the business has been sold as a unit and that the purchaser is to carry on the same at the same place of business, and upon the payment of a fee as prescribed from time to time by the Board, shall be entitled to have a new and appropriate license issued to the purchaser, provided that any business requiring special approval shall not have a license issued until the special approval has been duly obtained from the proper authority.
(`94 Code, § 10-18)