(A)   A license issued under this chapter shall permit the sale of alcoholic liquor or beer only in the premises described in the application and license, and only under the conditions and restrictions imposed in this chapter on the particular class of license described therein.
   (B)   Such license shall not be subject to attachment, garnishment, or execution, nor shall it be alienable or transferrable, voluntarily or involuntarily, or subject to being encumbered or hypothecated. Such license shall not descend by the laws of testate or intestate devolution, but shall cease upon the death of the licensee; provided that the executors, administrators, or the estate of any deceased licensee and the trustees of any insolvent or bankrupt licensee when 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 such insolvency or bankruptcy, until the expiration of the license but not longer than six months after the death, bankruptcy, or insolvency of such licensee.
(Prior Code, 3 TCC 1-8)