(a) Except as provided in this section, a license issued under this chapter is not assignable.
(b) A licensee may apply to the chief for consent, and upon receipt of the consent and payment of the processing fee authorized by Section 7570, may assign a license to another business entity as long as the direct and indirect owners of the assignor own all of the assignee immediately after the assignment.
(Amended (as amended by Stats. 2014, Ch. 669, Sec. 8) by Stats. 2017, Ch. 569, Sec. 18. (SB 559) Effective January 1, 2018. See version added by Sec. 9 of Stats. 2014, Ch. 669.)