A. In the case of any succession in business activity that is accomplished by voluntary agreement between the original business entity and the successor business entity, and in order to protect the interest of the City in the taxes described in Section 13-4, the initial agreement or mutual expression of intent to agree shall operate to immediately create a business succession lien in favor of the City in the total amount of such taxes. Such lien shall immediately attach to all of the tangible and intangible assets of the original business.

B. The lien created by Subsection A shall, upon completion of the transfer of effective control of operation from the original to the successor business, attach to all assets of the successor business to the extent of all tax liability remaining unpaid by the original business as of the date of transfer. If the transfer is in stages, or over a period of time, the earliest stage or date shall fix the lien and the consequent obligation of the successor business to file returns with payments under its own activity license.

C. The business succession lien created by Subsection A shall not diminish or alter in any way the liability of the original business or the personal liability created in Sections 13-11 or 13-14 of this article.

D. The business succession lien created in this section is separate and apart from and in addition to any tax liability of or lien against the successor business that might have existed or come into being separately and apart from its acquisition of the original business.

E. All business successions shall be deemed to be voluntary except as described in Section 13-7 below. (Ord. No. G-2075, § 1; Ord. No. G-2976, § 3; Ord. No. G-3192, § 4; Ord. No. G-5349, § 1, 2009)