A license shall be valid for one year. All permits, licenses, or transfers issued under any provision of this title shall terminate on June 30 next following the date of issuance thereof, unless a different termination date with respect to specific licenses shall be specifically provided with respect to a permit, license, or transfer. If a license is not renewed on or before June 30 of each year, then all rights granted by that license shall cease.
(`74 Code, § 400:33)