(A)   Term Of License: All licenses, except Class C licenses, shall be valid for a period not to exceed one year after issuance, unless sooner terminated, revoked or suspended as provided in this chapter. All licenses shall expire on December 31 at eleven fifty nine o'clock (11:59) P.M. of each year.
   (B)   Renewal Of License: Any licensee may apply for renewal of a license at the expiration thereof; provided, that he is then qualified to receive a license and the premises for which such renewal license is sought are suitable for such purpose; provided, further, that the renewal privilege herein provided for shall not be construed as a vested right which shall in any case prevent the President and Board of Trustees from decreasing the number of licenses to be issued within the Village or to be issued within the Village within any class.
   (C)   Cessation Of Business; Forfeiture Of License: Any licensee who ceases to do business or closes his place of business for a period of more than thirty (30) successive days shall be subject to having his license declared forfeited and lapsed by order of the Local Liquor Control Commissioner.
   (D)   Failure To Renew: Failure to renew a license, including the payment of the required license fee, prior to January 15, in any given year, may be considered by the Local Liquor Control Commission as an abandonment by such licensee of his right to a renewal of such license. (Ord. 99-O-26, 10-25-1999)