Section 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.