Every license issued under the provisions of this article shall confer a personal privilege only to transact the business, activity, trade or employment which may be the subject of a license, and shall not be exercised except by the person holding the same unless assigned under the terms of Section 753.11. After any such assignment, the license shall be a personal privilege of the assignee and shall not be exercised by any person other than the assignee, unless and until again assigned under the terms of Section 753.11.
(1972 Code §11-1-9)