No license issued pursuant to Chapters 5.04, et al, shall be transferable; provided, that where a license is issued authorizing
a person to transact and carry on a business at a particular place, such licensee
may upon application therefor and paying a fee of ten dollars, have the license amended
to authorize the transacting and carrying on of such business under the license at
some other location to which the business is or is to be moved. 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 this section.
For the purpose of this section, stockholders, bondholders, partnerships or other
persons holding an interest in a corporation or other entity herein defined to be
a person are regarded as having the real or ultimate ownership of such corporation
or other entity.
