Every licensee under this chapter shall display such license in a prominent location upon the licensed premises and shall refrain from operating the licensed business on such premises after expiration of his license. No licensee shall allow any license to remain posted, displayed or used after the period for which it was issued has expired, or when it has been suspended or revoked, or for any other reason become ineffective. No licensee shall loan, sell, give or assign to any other person or allow any other person to use or display, or to destroy, damage or remove, or to have in his possession, any license which has been issued to said licensee. (1984 Code § 3-1-10)