A person may transfer a license to a holder of another license that already exists for use on the same location if:
(1) no provision of this article prohibits the license from being transferred to the location;
(2) the Board:
(i) determines that the existing license is inoperative; and
(ii) 1. revokes the existing license within 180 days after the effective date of the transfer; or
2. approves the transfer of the existing license to a new holder and location.
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