Section 4-472.3 - Exchange of certain licenses(a) The board may issue to a club as defined in this act, a club liquor license in exchange for a club retail dispenser license in any municipality which has approved the granting of liquor licenses.(b) An applicant under this section shall surrender his club retail dispenser license for cancellation prior to the issuance of the new club liquor license.(c) The applicant for such exchange of license shall file an application for a club liquor license and shall post a notice of such application in the manner provided in section 403 . In determining whether the exchange shall be granted the board shall have the same discretion as provided in section 404 in the case of any new license.(d) The provisions of section 461 pertaining to quota shall not pertain to this section for exchange purposes.1951, April 12, P.L. 90, No. 21, § 472.3, added 1980, July 3, P.L. 348, No. 88, § 3, effective in 90 days. Reenacted 1987, June 29, P.L. 32, No. 14, § 74, effective 7/1/1987. Amended 2002, Dec. 9, P.L. 1653, No. 212, § 20, effective in 60 days.