Sale
or transfer of business. No adult entertainment permit may be sold,
transferred, or assigned by the permittee, or by operation of law,
to any other person or persons; and 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 deemed terminated and void; provided and excepting, however, that
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 or partners
without effecting a surrender or termination of such permit and in
each case the permittee shall thereafter be deemed to be the surviving
partner(s). One or more proposed partner(s) in a partnership granted
a permit hereunder may make application to the planning director,
together with the fee established by the city council therefor, to
amend the original application providing all information as required
for partners in the first instance and, upon approval thereof, the
transfer of the interests of one or more partners to the proposed
partner or partners may occur. If the permit is issued to a corporation,
the permit shall be deemed terminated and void if stock is sold, transferred,
issued, or assigned to a person not listed on the application as a
stockholder; provided, however, the proposed transferee may submit
to the planning director, 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.