Upon making an application to the Director of Finance and paying a fee of $50, and upon a determination of the Director of Finance that the applicant is an organization or association as defined in § 4-10.01 of this chapter, the Director of Finance shall issue a license to such organization or association authorizing the conduct of bingo games. Such license shall be for a period of one year and shall be renewable annually upon the payment of a $50 renewal fee. If an application for a license or the renewal thereof is denied, one-half of any such fee paid shall be refunded to the organization or association applying therefor. ('61 Code, § 4-10.02) (Ord. 290 C.S., passed 4-5-78)