(a) Each license issued by the Department shall be valid only for the premises and persons named in the application, and shall not be transferable. (b) Any transfer of 25% or less in the aggregate ownership interest within a one year period shall not be deemed a transfer for purposes of this Section.
20 ILCS 301/15-30
Transfer of ownership, management or location
P.A. 88-80.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.