The rules have been updated and have been simplified. You can review the updates here.
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http://www.hostbillforums.com/index.php/topic,1282.0.htmlIn a nutshell, you cannot sell licenses per say, but you are legally authorized to sell your account. This is considered a resource transfer to another entity and HostBill is obligated to respect this right all businesses have. For example, if a business sells out to another company, the new company inherits all assets of the old company. This is standard practice and cannot be denied. To deny transfers would be illegal since the licenses are owned.
I'm not encouraging the sale of HostBill licenses, but I am encouraging everyone to understand their rights.