(a)  Except pursuant to § 21-28.11-10(e), all licenses under this chapter shall be effective for one year from the date of issuance.

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(b)  Subject to rules and regulations, the commission shall issue a renewal license within thirty (30) days of receipt of a renewal application and renewal license fee from licensees in good standing as determined by the commission and who have filed all required tax returns and paid all required taxes.