(a) Upon the death of an individual or individuals, of whose qualification a license under this chapter has been obtained, the business with which the decedent was connected may be carried on for a period of ninety days by the following:
(1) In the case of an individual licensee the surviving spouse, or, if there be none, the executor, or administrator of the estate of the decedent.
(2) In case of a partnership, the surviving partners.
(3) In case of an officer of a firm, company, association, organization or corporation, the other officers thereof.
(b) Upon the authorization of the Commissioner the business may be carried on for a further period of time when necessary to complete any investigation or contract, or assist in any litigation pending at the death of the decedent.
(c) Nothing in this section shall be construed to restrict the sale of a business licensed pursuant to this chapter; provided, however, the vendee qualifies for a license under the provisions of this chapter.