Except as otherwise provided in this section, a license is effective until it is: surrendered by the licensee; or revoked for cause by the Comptroller. If a partnership that is licensed to engage in the business of a retail vendor is dissolved by the death of a partner, the surviving partner or partners may operate under the license for not more than 60 days after the date of dissolution. If a person who is licensed to engage in the business of a retail vendor dies, the heirs or legal representative of the licensee may operate under the license for the period of time necessary for the administration of the licensee’s estate. If a person who is licensed to engage in the business of a retail vendor declares bankruptcy, the receiver or trustee in bankruptcy may operate under the license for the period of time necessary for the administration of the licensee’s assets. If 2 or more persons who constitute a single vendor licensed to engage in the business of a retail vendor operate at 1 place of business under 1 license, the retirement of 1 or more persons from the business or the addition of 1 or more persons to the business will not affect the license or require a new license for the place of business.