6.04.055 Transfer of business.
A. A business license expires upon the effective date of a transfer of the business. Not later than 15 days after the effective date of the transfer, the licensee shall provide written notice to the finance director of the transfer, including the name, address, form of organization and jurisdiction of organization of the transferee, and surrender the licensee’s business license to the finance director. The successor owner shall be required to file a new application for a city business license.
B. In subsection (A) of this section, the term “transfer” includes any of the following:
1. A change in the form of ownership or organization of the business, such as from a sole proprietor to a partnership, limited liability company, corporation or the removal or addition of a partner;
2. A change in voting control or in more than 50 percent of the ownership interest in a licensee that is a corporation, limited liability company or partnership;
3. A sale of substantially all of the assets used in the business of the licensee; or
4. The initiation of a lease, management agreement or other arrangement under which another person becomes entitled to the licensee’s gross receipts from sales, rentals or services. (Ord. 18-06 § 17, 2018; Ord. 07-30 § 4, 2007)