(a) (1) Subject to subsection (b) of this section, the Board may not approve an application for the transfer of a license unless:
(i) all obligations of the transferor pertaining to the licensed establishment have been paid; or
(ii) an arrangement concerning debts and obligations satisfactory to the transferor’s creditors has been made.
(2) Paragraph (1) of this subsection also applies to approval of an application for a new license if the Board believes that the application is being used to avoid provisions regarding the transfer of a license.
(b) The Board is not bound by subsection (a) of this section unless:
(1) a creditor submits a claim, under affidavit, to the Board before the hearing held on the transfer; and
(2) the claim involves an indebtedness incurred in the operation of the licensed premises.
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