(A) Each license shall expire on the January 1 after it was issued and may be renewed only by making application as provided in Section 7-7-4. Application for renewal shall be made at least thirty (30) days before the expiration date and when made less than thirty (30) days before the expiration date, the expiration of license will not be affected.
(B) If the Village denies renewal of a license, the applicant shall not be issued a license for one (1) year from the date of denial. If, subsequent to denial, the Village finds that the basis for denial of the license has been corrected or abated, the applicant may be granted a license.