An adult entertainment regulatory permit issued under this article shall be valid for twenty four (24) months from the date of issuance unless suspended or revoked by the city or unless relinquished by the permittee. If an adult entertainment business ceases operating as an adult entertainment business prior to the expiration of the adult entertainment regulatory permit for the business, then the permittee shall relinquish such permit by written notice to the director within three (3) calendar days of the cessation of operations. (Ord. 98-O-2302, eff. 7-2-1998; amd. Ord. 01-O-2386, eff. 12-9-2001)