(a) For a license issued by the Executive Director for the use of a corporation or club, the license holder may substitute on the license the name of a different officer for the name of any officer who:
(1) has died;
(2) has retired; or
(3) no longer holds an office in the corporation or club.
(b) The license holder shall file with the Executive Director an affidavit that contains:
(1) the substitution of the officer;
(2) an explanation for the substitution; and
(3) in the case of a corporation, a statement that the ownership of the corporation has not changed.
(c) On receipt of the affidavit and after determining that the applicant qualifies under this article, the Executive Director shall:
(1) amend its records; and
(2) issue a corrected license.