The Village Clerk shall cause to be maintained a record of all commercial establishments and commercial regulatory documents which may from time to time be deemed necessary for the purpose of classifying, inspecting, serving and regulating all commercial establishments in the Village. Subject to the provisions of this chapter, the Village shall, upon payment in full of the required document fee to the Village, issue a certificate or similar evidence of regulation which shall be displayed by the owner of the commercial establishment in a conspicuous place. Such evidence of regulation shall bear the signature of the Mayor and Clerk.