§ 5.82.031. Permit nontransferable.

A.

Any permit issued pursuant to this Chapter 5.82 shall not be transferred or assigned to another person for any purpose. Any change in ownership shall require a new permit. Regardless of any change in ownership, the permittee shall be required to notify the Director of Financial Management of any change in the business name.

The following shall be deemed a change of ownership:

1.

For general partnership personnel, the addition or substitution of a new partner;

2.

For a limited partnership, the addition or substitution of a new partner or the addition or substitution of a general partner not listed as a partner in the application for the permit previously approved;

3.

For a corporation, more than fifty percent (50%) of the shares of stock is transferred to or acquired by persons other than those designated in the application for the permit previously approved.

(Ord. C-7423 § 29, 1996)