(a) The executor or administrator of the estate of a person who was operating a business as a sole licensee under a license authorized by this title may continue to operate the licensed business until an application for transfer of a license to another person is approved or until the license is forfeited under (b) of this section.
(b) If an application for the transfer of ownership of a license from a deceased licensee is not made within 90 days of the death of the licensee or within an additional 90 days if an application for transfer of ownership made by the executor is denied, or no petition is made to the board for an extension of time under (c) of this section within the time, the license is forfeited.
(c) The board may extend the time limits in (b) of this section on petition of the executor or administrator.
(d) This section does not authorize the transfer of a liquor license by an administrator or executor to the estate of a decedent.
(e) The board may transfer a license to an executor or administrator only in the executor's or administrator's individual capacity.