No business tax certificate issued pursuant to the provisions of this chapter shall be transferable; provided, however, where a business tax certificate is issued authorizing a person to transact and carry on a business at a particular place, such business tax certificate holder may, upon application therefore and paying a fee as specified in the City's Master Fee Resolution, have the business tax certificate amended to authorize the transfer of such business tax certificate to some other lawfully approved location to which the business is or is to be moved; and provided, further, that transfer, whether by sale or otherwise, to another person under such circumstances that the real or ultimate ownership after the transfer is substantially similar to the ownership existing before the transfer shall not be prohibited by the provisions of this section. For the purposes of this section, stockholders, bondholders, or other entities included within the definition of a person are regarded as having the real or ultimate ownership of such corporation or other entity.
(§ 2, Ord. 176-NS, eff. December 4, 1970,§ 2, Ord. 1478-NS, eff. July 1, 2007)