A.    A licensee has the right to renew the license annually until revoked for cause or until the license is no longer currently and actively used to operate a business authorized by the license; provided, however, that the license may be renewed after termination of the authorized business activity during a licensing period for one (1) additional year, if the applicant makes application within forty-five (45) days after the expiration date of the license and if the applicant certifies under oath that:

    1.    He is not holding a license for speculative reasons; and

    2.    He is actively seeking a purchaser of his business premises and assets as above-provided, or is actively seeking a new business location for which he will seek a transfer of the license as provided by law.

    B.    No license renewal may be granted beyond one (1) year of inactive status as above-provided. If not renewed within the forty-five (45) day period, the license shall expire. (Prior code § 11-05-018)