(A) A licensee may renew their license at the expiration thereof, provided they are then qualified to receive a license and the premises for which such renewal license is sought are suitable for such purposes; provided that the renewal privilege herein provided shall not be construed as a vested right.
(B) Any license issued to a corporation shall terminate upon transfer of ownership from one person or persons to another of more than thirty percent (30%) of the stock of the corporation, and any application for renewal of the license in the corporation’s name subsequent to the transfer of ownership of more than thirty percent (30%) of the stock of the corporation shall be considered and treated as a new application.
(C) Whenever a non-corporate licensee forms a corporation to operate in lieu of said licensee, a new application and fee is required even when the shareholder or shareholders of said corporation and the licensee or licensees are one and the same persons.
(D) Failure to apply for renewal of a license and/or failure to submit the appropriate fee by the expiration date of the existing license may be considered by the Liquor Control Commissioner as a decision not to renew the license.
