(a) If the permittee 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(s) without affecting a surrender or termination of the permit,
and in such case, the permit, upon notification to the chief of police, shall be placed
in the name of the surviving partners. One (1) or more of the partners in a partnership
granted a permit hereunder may make application to the chief of police, together with
the application fee, to amend the original application providing all information as
required for partners by section 9-332, as well as all information relating to the new partner(s). Upon the chief of police's
approval of the amendment to the permit, the transfer of the interests of one (1)
or more partners to the proposed partner or partners may occur.
(b) If the permit is issued to a corporation, stock may be sold, transferred, issued,
or assigned to stockholders who have been named on the application. If any stock is
sold, transferred, issued, or assigned to a person not listed on the application as
a stockholder, the permit shall be deemed terminated and void; provided, however,
the proposed transferee may submit to the chief of police, together with a fee established
by the city council, an application to amend the original application providing all
information as required for stockholders in the first instance, and, upon approval
thereof, the transfer may then occur.
