Sec. 10-48Occupation tax certificates nontransferable

No adult entertainment establishment occupation tax certificate may be sold, transferred, or assigned by a permittee, or by operation of law, to any other person or persons. Any such sale, transfer, or assignment, or attempted sale, transfer, or assignment, shall be deemed to constitute a voluntary surrender of such permit, and such permit shall thereafter be null and void; provided and excepting, however, that if the applicant is a partnership and one or more of the partners should die, one or more of the surviving partners may acquire, by purchase or otherwise, the interest of the deceased partner or partners without effecting a surrender or termination of such occupation tax certificate, and in such case, the occupation tax certificate upon notification to the city, shall be placed in the name of the surviving partner. An adult entertainment establishment occupation tax certificate issued to a corporation shall be deemed terminated and void when either any outstanding stock of the corporation is sold, transferred, or assigned after the issuance of a permit, or any stock authorized but not issued at the time of the granting of an occupation tax certificate is thereafter issued and sold, transferred, or assigned.