(A) All licenses issued shall expire at 12:00 midnight on the last day of June, following the issuance thereof; or at 12:00 midnight on the last day of December, following the issuance thereof, whichever shall come first. Said licenses shall be for the period of six months, to-wit:
(1) From January 1 to 12:00 midnight on the last day of June; provided licenses issued before the last day of June of any year shall expire at midnight the last day of June, following the date of issuance and shall then, when renewed, be for the period of six months; and
(2) From June 1 to 12:00 midnight on the last day of December; provided licenses issued before the last day of December of any year shall expire at 12:00 midnight the last day of December, following the date of issuance and shall then, when renewed, be for the period of she months.
(B) For each month of said fractional portion of said year, the license fee shall be one-twelfth of the total annual license fee times the months covered by said licenses or the fraction thereof.
(1975 Code, § 22-108)