On or before the first day of December of each year, any person, association, or corporation possessing the qualifications prescribed in this part shall have the right to apply to the racing commission for a permit or license to conduct race meetings and racing under this part. On or before the first day of January of each year, after the receipt of any such application, the commission shall convene to consider and act upon all permits or licenses applied for. Approved permits or licenses shall be granted for a period of not more than 10 years from the date of issuance and shall set forth, in addition to any other information prescribed by the commission, the name of the licensee, the location of the race track, duration of the race meeting, and the kind of racing desired to be conducted and shall show the receipt by the commission of a license fee set by the commission, the setting of which is hereby authorized, provided, however, the license fee shall not exceed one thousand dollars ($1,000) annually. No such license shall be transferable, nor shall it apply to any other place, track, or enclosure except the one specified in this license.

(1) The commission shall not issue any licenses which would permit any two race tracks in the county to operate on the same racing days. Further, after the first license has been issued to the licensee, all subsequent applications for a license by a permit holder shall be accompanied by proof, in such form as the commission may require, that the licensee still possesses the qualifications set out in this part. Such application for renewal of licenses shall be granted upon the same terms and conditions as previously issued and shall not be denied except for due cause.

(2) Seventy-five percent of the employees of the track or tracks shall be bona fide resident citizens of Greene County, Alabama.