(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.