(2) If a licensed electronic smoking devices wholesaler distributor or electronic smoking devices wholesaler importer sells the licensee’s electronic smoking devices business and pays to the Executive Director a license assignment fee of $10, the licensee may assign the license to the buyer of the business if the buyer otherwise qualifies under this title for an electronic smoking devices wholesaler’s distributor or importer license.

(b) If the electronic smoking devices business of a licensee is transferred because of bankruptcy, death, incompetency, receivership, or otherwise by operation of law, the Executive Director shall transfer the license without charge to the new owner of the licensee’s business if the transferee otherwise qualifies under this title for the license being transferred.

(c) (1) If a licensed electronic smoking devices wholesaler distributor or electronic smoking devices wholesaler importer surrenders the license to the Executive Director and if no disciplinary proceedings are pending against the licensee, the Executive Director shall refund a pro rata portion of the license fee for the unexpired term of the license.

(2) A licensed electronic smoking devices retailer or a licensed vape shop vendor is not allowed a refund for the unexpired term of the license.