A license for the sale of alcoholic liquors under this chapter shall be granted for a term of not to exceed 1 year and all licenses shall have expired May 1 after the date of issuance. Where the license has ¾ of a year or more to run, the full annual license fee shall be paid; if the license shall have less than three- fourths of 1 year to run, the license shall be prorated according to the number of months left until the expiration date, no deduction being made for any part of a month. One-half of the annual fee shall accompany the application for the license and the balance shall be paid on November 1, thereafter. Where application is made after November 1, the entire fee shall accompany the application. No part of the license fee after the issuance of the license shall be refunded.
(1992 Code, § 111.17)