(1) If the majority of the electors voting on the issue at the election vote for the manufacture or sale of intoxicating liquors, then it shall be lawful for the Director of the Alcoholic Beverage Control Division to continue to issue licenses or permits for such manufacture or sale within the designated territory as if no election had been held.
(2) If a majority of the electors voting at the election vote against the manufacture or sale of intoxicating liquors, then it shall be unlawful for the director or any county or municipal official to issue any license or permit for the manufacture, sale, barter, loan, or giving away of any intoxicating liquor as defined in this subchapter unless and until the prohibition shall be repealed by a majority vote as provided for in §§ 3-8-201 — 3-8-203 and 3-8-205 — 3-8-209.
(3) In either case, a period of at least four (4) years shall elapse before another election on the same subject may be held in the territory affected.
(4) If a majority of electors voting on the issue at any such election vote against the manufacture or sale of intoxicating liquors, any license or permit which has already been issued, authorizing the manufacturing or sale or the bartering, loaning, or giving away of intoxicating liquor within the territory affected shall be immediately cancelled, and the unearned part of the license or permit fee shall be returned. It shall then be unlawful for any person, firm, or corporation to manufacture, sell, barter, loan, or give away any intoxicating liquor within the territory covered by the petition.