A license granted under the provisions of §§ 113.15 et seq. shall continue in effect, without the necessity of periodic renewal, except as it may be amended by action of the City Commission upon application by the licensee, until it shall be terminated in 1 of the following ways.
(A) Any license shall terminate automatically upon the termination or cancellation of the policy of insurance or surety bond provided for by § 113.18, unless a new policy shall be submitted and approved within 10 days from the termination or cancellation.
(B) Any license may be revoked by the City Commission if it shall find that the licensee has continuously failed to comply with the terms and provisions of the license or has continuously failed to obey any of the provisions of this chapter. The licensee shall be entitled to a hearing, after reasonable notice, upon a written specification of the grounds for the proposed termination.
(1981 Code, § 27-22)