With each initial application for a license under the provisions of this article, the applicant shall pay to the commissioner at the time of making such application a license fee of Seven Hundred Fifty Dollars ($750.00), and for renewal applications, an annual renewal fee of Four Hundred Seventy-five Dollars ($475.00). The licenses issued under the provisions hereof shall be valid for a period of one (1) year from the date of the issuance thereof. Such fee is in addition to any other privilege tax or fee required by law. Within thirty (30) days prior to the expiration of any valid and subsisting license issued hereunder, the holder thereof, if he desires to continue to engage in business in the State of Mississippi, shall file application for a new license in the same manner and under the same conditions herein provided.
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