§ 114. Licenses, publication, general provisions. 1. All licenses
issued pursuant to this chapter shall be distinctive in color and design
so as to be readily distinguishable from each other.

2. No license shall be transferable or assignable except that
notwithstanding any other provision of law, the license of a sole
proprietor converting to corporate form, where such proprietor becomes
the sole stockholder and only officer and director of such new
corporation, may be transferred to the subject corporation if all
requirements of this chapter remain the same with respect to such
license as transferred and, further, the licensee shall transmit to the
authority, within ten days of the transfer of license allowable under
this subdivision, on a form prescribed by the authority, notification of
the transfer of such license.

3. No license shall be pledged or deposited as collateral security for
any loan or upon any other condition; and any such pledge or deposit,
and any contract providing therefor, shall be void.

4. Licenses issued under this chapter shall contain, in addition to
any further information or material to be prescribed by the rules of the
liquor authority, the following information: (a) Name of person to whom
license is issued; (b) kind of license and what kind of traffic in
alcoholic beverages is thereby permitted; (c) description by street and
number, or otherwise, of licensed premises; (d) a statement in substance
that such license shall not be deemed a property or vested right, and
that it may be revoked at any time pursuant to law.

5. There shall be printed and furnished by the liquor authority to
each licensee a statement of the causes for which licenses may be
revoked. Such statement shall be prepared by the liquor authority and
delivered to the licensee with his license or as soon thereafter as may
be practicable. Any amendments thereto shall also be sent by the liquor
authority to all licensees as soon as may be practicable after such
amendments. Failure to send such statements or changes therein, or
failure to receive the same, or any misstatement or error contained in
such statements or amendments shall, however, not be an excuse or
justification for any violation of law, or prevent, or remit, or
decrease any penalty or forfeiture therefor.

6. Before commencing or doing any business for the time for which a
license has been issued said license shall be enclosed in a suitable
wood or metal frame having a clear glass space and a substantial wood or
metal back so that the whole of said license may be seen therein, and
shall be posted up and at all times displayed in a conspicuous place in
the room where such business is carried on, so that all persons visiting
such place may readily see the same. It shall be unlawful for any person
holding a license to post such license or to permit such license to be
posted upon premises other than the premises licensed, or upon premises
where traffic in alcoholic beverages is being carried on by any person
other than the licensee, or knowingly to deface, destroy or alter any
such license in any respect. Whenever a license shall be lost or
destroyed without fault on the part of the licensee or his agents or
employees, a duplicate license in lieu thereof may be issued by the
liquor authority in its discretion and in accordance with such rules and
regulations and the payment of such fees, not exceeding five dollars, as
it may prescribe.