(A) All license fees shall be paid to the President at the time application is made, and shall be forthwith turned over to the Treasurer.
(B) In the event the license applied for is denied, the fee shall be returned to the applicant; if the license is granted, then the fee shall be deposited in the General Fund or in such other fund as shall have been designated by the Board by proper action.
(1977 Code, § 3-2-8)