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Every license shall terminate on April 30 next following issuance unless sooner revoked or suspended. The fee for a new license shall be the annual fee reduced in proportion to the number of full months that have expired since the last prior May 1. The fee for renewal shall be the full annual fee. There shall be no rebate for the unexpired term of a license. An application for renewal shall not be considered as such unless made prior to April 30, and unless submitted with the appropriate fee. No license shall be valid unless the proper fee has been paid.
('73 Code, § 34.08)