90-011 ORD - Laserfiche WebLink

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. . . his personal representative is hereby authorized to continue operation of said business for not more than ninety (90) days after the death of such licensee. d. Transfer. No license shall be transferable between persons or locations without the approval of the Council. e. Refusal and Termination. The Council may, in its sole discretion and for any reasonable cause, refuse to grant any application. No license shall be granted to a person of questionable moral character or business reputation. Licenses shall terminate only by expiration or revocation. f. Corporate Applicants and Licensees. A corporate applicant, at the time of application, shall furnish the City with a list of all persons that have an interest in such corporation and the extent of such interest. The list shall name all shareholders holding more than five percent (5%) of all issued and outstanding stock of the corporation and show the number of shares held by each, either individually or beneficially for others. It is the duty of each corporate licensee to notify the City Clerk-Treasurer of any change in legal ownership or beneficial interest in such corporation or in such shares. Any change in the ownership or beneficial interest in the shares entitled to be voted at a meeting of the shareholders of a corporate licensee, which results in the change of voting control of the corporation by the persons owning the shares therein, shall be deemed equivalent to a transfer of the license issued to the corporation; and any such license shall be revoked thirty (30) days after any such change in ownership or beneficial interest of shares unless the Council has been notified of the change in writing and has approved it by appropriate action. The Councilor an officer of the City designated by it may at any reasonable time examine the stock transfer records and minute books of the corporate licensee in order to verify and identify the shareholders, and the Council or its designated officer may examine the business records of any other licensee to the extent necessary to disclose the interest which persons other than the licensee have in the licensed business. The Council may revoke any license issued upon its determination that a change of ownership of shares in a corporate licensee or any change of ownership of any interest in the business of any other licensee has actually resulted in the change of control of the licensed business so as materially to affect the integrity and character of its management and its operation, but no such action shall be taken until after a hearing by the Council on notice to the licensee.