All licenses granted under the provisions of this subchapter shall expire on May 1 following the date of issuance and no license shall be used for part or portion of the fiscal year, except the whole, and no rebate or refund shall be given for any sums or amounts paid for such license by reason of the discontinuance of such game or machine by such license and each and every license shall be nonassignable and nontransferable and apply only to the premises for which such license is issued.
(1974 Code, § 3-5-2) (Ord. 424, passed 9-26-1956)