(a) A transfer of ownership of any license issued pursuant to this article and changes in business structure shall be prohibited for one year after the date the license is issued by the city unless the licensee can demonstrate that a transfer of ownership is made necessary by death or disability of the licensee or other substantial financial hardship.

(b) A transfer of ownership or change in business structure for a marijuana establishment shall be governed by the standards and procedures set forth in the Colorado Medical Marijuana Code or the Colorado Retail Marijuana Code and any rules and regulations adopted pursuant thereto. The local licensing authority shall administer transfers of licenses or changes in business structure in the same manner as the state licensing authority administers transfers of state licenses and changes in business structures. (Ord. No. 2019-32, § 11, 7-15-2019; Ord. No. 2017-28, § 10, 8-7-2017; Ord. No. 2016-15, § 10, 6-20-2016; Ord. No. 2014-14, § 2, 5-12-2014)