For a license issued by the Executive Director 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: has died; has retired; or no longer holds an office in the corporation or club. The license holder shall file with the Executive Director an affidavit that contains: the substitution of the officer; an explanation for the substitution; and in the case of a corporation, a statement that the ownership of the corporation has not changed. On receipt of the affidavit and after determining that the applicant qualifies under this article, the Executive Director shall: amend its records; and issue a corrected license.