(1) Each permit authorized by the Liquefied Petroleum Gas Board shall be issued in the name of the person for whom approval was granted.
(2) No permit shall be transferable to any other person without prior approval by the board.
(3) The permits of all holders who shall cease doing business as authorized by their permits for a period of twenty (20) days shall be automatically revoked and may be reinstated only by action of the board.
(4) A transfer of an existing permit or a reinstatement of an automatic revocation of an existing permit pursuant to this subchapter may be made only upon compliance with this subchapter and rules pertaining to new applications, and the proposed transfers or reinstatements shall meet all requirements for new applications.