(a)

(1) When the ownership of percent or more of the shares of stock of a corporation, which is required to report the issuance or transfer of those shares of stock under

Section 23405, is acquired by or transferred to a person or persons who did not hold the ownership of percent of those shares of stock on the date the license was issued to the corporation, the license of the corporation shall be transferred to the corporation as newly constituted. When there is a new general partner or when the ownership of percent or more of the capital or profits of a limited partnership, which is required to maintain a register under

Section 23405.1, is acquired by or transferred to a person or persons as general or limited partners and who did not hold ownership of percent or more of the capital or profits of the limited partnership on the date the license was issued to the limited partnership, the license of the limited partnership shall be transferred to the limited partnership as newly constituted. The application fee for the transfer of an on-sale general license or an off-sale general license shall be eight hundred dollars ($800). For all other licenses, the fee shall be three hundred thirty-five dollars ($335).

In situations involving the multiple and simultaneous transfer of licenses under this section, the regular transfer fee shall only be required for one of the licenses being transferred and the remainder of the licenses shall be transferred for a fee of one hundred dollars ($100) each. All of the transfer fees collected pursuant to this

section shall be deposited in the Alcohol Beverage Control Fund as provided in

Section 25761. Before the license is transferred, the department shall conduct an investigation pursuant to the provisions of

Section 23958. Any person or persons who own percent or more of the shares of stock of the corporation or who own as limited partners percent or more of the capital or profits of the limited partnership, as the case may be, shall have all the qualifications required of a person holding the same type of license.

(2) The fees may be adjusted by the department pursuant to subdivisions (

d) and (

e) of

Section 23320. (

b) A retail license shall not be transferred by a corporation or a limited partnership under this

section unless, before the filing of the transfer application with the department, the corporation or limited partnership initiating the transfer records in the office of the county recorder of the county or counties in which the premises to which the license has been issued are situated a notice of the intended transfer, stating all of the following:

(1) The name and address of the corporation or limited partnership.

(2) The name and address of the person or persons acquiring ownership of percent or more of the stock of the corporation or capital or profits of the limited partnership.

(3) The amount of the consideration paid for the stock or limited partnership interests.

(4) The kind of license or licenses intended to be transferred.

(5) The address or addresses of the premises to which the license or licenses have been issued. (

c) A copy of the notice of the intended transfer, certified by the county recorder, shall be filed with the department together with the transfer application. (

d) Notwithstanding any other provision of this division, a corporation or limited partnership as newly constituted by transfer under this section, is not eligible for any new credit from any person named in

Section until all delinquent payments owed by the entity as formerly constituted, are made, nor shall any entity retail licensee, by transferring its license under this section, avoid the provisions of

Section with regard to 42-day or 30-day periods, percentage charges for unpaid balances, or cash-on-delivery basis.