All licenses granted under this chapter: (1) Shall be in writing; (2) Shall be subject to all administrative regulations and conditions as may from time to time be prescribed by the corporation; (3) Shall contain conditions as may be considered necessary or desirable by the corporation for purposes of this chapter; and (4) No license shall extend beyond the end of the calendar year for which it was issued, unless the license expires on the last date of the birth month of the licensee, in which case it may expire on that date. The corporation may renew any license and any renewal shall not be construed to be a waiver or condonement of any violation which occurred prior to renewal and shall not prevent subsequent proceedings against the licensee therefor.
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