A. No business tax certificate issued pursuant to this chapter shall be transferable to another owner or another location; provided, however, that where a business tax certificate is issued authorizing a person to transact and carry on a business at a particular place, such business tax certificate holder may have the business tax certificate amended to authorize the transfer of the business tax certificate to some other lawfully approved location to which the business is or is to be moved; provided further, that the 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.

B. For the purpose of this section stockholders, bondholders, or other entity defined to be a person in subsection E of Section 5.02.010 are regarded as having the real or ultimate ownership of such corporation or other entity. (Ord. 3765 § 2, 1997; Ord. 3371 § 1, 1991)