(a) (1) Subject to paragraph (2) of this subsection, for a license issued for the use of a corporation or club, the license holder may substitute on the license the name of a different officer for the name of any officer who: (i) has died; (ii) has retired; or (iii) no longer holds an office in the corporation or club. (2) A substitute officer shall be an individual approved by the Board who meets all the requirements applicable to the original officer. (b) The license holder shall file an affidavit and application with the Board that contains: (1) the substitution of the officer; and (2) an explanation for the substitution. (c) On receipt of the affidavit and application and after a finding by the Board that the individual is fit and would meet the same requirements applicable to the original officer, the Board shall: (1) amend its record; and (2) issue a corrected license. (d) On receipt of the affidavit and application and payment of a $5 fee, the Board shall: (1) amend its records; and (2) issue a corrected license. (e) The license holder shall pay a fee of $100 to the Board for the service.