A franchise shall not be bought, sold, transferred, assigned, or otherwise alienated,
in whole or in part, without the prior approval of the board and without prior settlement
of all accounts payable with the county for franchise fees, disposal fees, and other
costs and expenses. Any attempted sale, transfer, assignment, or other disposition
of the franchise, in whole or in part, shall be null and void without such approval.
If the proposed sale, transfer, assignment, or other disposition involves a person
that is not a franchise holder, then the person proposing to acquire all or part of
the franchise shall submit an application and follow the procedures specified in section 16-47 of this article. For purposes of this section, either one of the following occurrences
requires prior board approval: (a) any sale or transfer of stock that results in a
change in the controlling interest or management of the franchise holder; or (b) any
change in the form of doing business (e.g., from a sole proprietorship to a corporation).
(Ord. No. 07-35, § 1 (§ 16-42), 12-12-2007)
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