(A)   Before the Board of Aldermen shall refuse to issue a license or refuse to renew a license previously issued, the Board shall provide the applicant with adequate notice and opportunity to be heard in accordance with division (B) and (C).
   (B)   When directed by the Board, the Town Clerk shall give written notice to the applicant that the Board has made a preliminary decision to deny the license applied for and unless the person notifies the Town Clerk within ten days after receipt of the written notice that he requests a hearing before the Board, the Board will proceed to deny the license.
   (C)   If a hearing is requested in accordance with division (B), the Board shall set a date for the hearing at the earliest convenient time, and shall take no final action on the license until after this hearing has been completed. At the hearing, the reason or reasons for the Board's preliminary decision to deny the license in question shall be explained. The applicant shall be given an opportunity to explain why the Board's preliminary decision should not become final.
   (D)   In deciding whether to deny a license, the Board may consider by way of illustration and limitation, those requirements and prohibitions for licensees contained in §§ 113.36, 113.39, and 113.40 of this subchapter.