(b) The license authorizes the license holder to sell beer and wine at a hotel or restaurant, at retail, at the place described in the license, for on- and off-premises consumption.

(c) (1) This subsection does not apply to a present license holder having the license before December 31, 1966.

(2) The area of the licensed premises normally used as a restaurant for the preparation and consumption of food and beverages may not occupy less than 80% of the square footage of the premises.

(d) The annual license fee is $300.