All permits and licenses issued under the terms of this subchapter shall expire at the time shown in the state license or permit presented by the applicant. If the license or permit sought is issued for a period of time less than one year, only a proportionate part of the annual fee shall be exacted and collected; provided, however, a fractional part of any month shall be counted as one month in calculating the fee which is to be paid.
(1998 Code, § 10-44)