(1) If a dry city or county shall subsequently vote at a local option election held pursuant to the Initiated Act No. 1 of 1942, §§ 3-8-201 — 3-8-203 and 3-8-205 — 3-8-209, for the manufacture or sale of intoxicating liquors, a referendum election under this subchapter may not be held in such city or county for a period of six (6) months thereafter.
(2) If a city or county has approved the sale of alcoholic beverages for on-premises consumption and dry areas within the city or county thereafter vote for the manufacture or sale of intoxicating liquors at a local option election pursuant to the Initiated Act, a referendum election under this subchapter need not be held again in the formerly dry areas, but permits may not be issued for on-premises consumption in such areas for a period of one (1) year thereafter.
(3) If permits are issued hereunder in a city or county which subsequently prohibits the manufacture or sale of intoxicating liquors at a local option election pursuant to the Initiated Act, then all permits shall be deemed automatically revoked and shall be returned to the Alcoholic Beverage Control Board forthwith.