(1) The application in proper form having been accepted for filing and the bond accepted and approved, except as provided in s. 206.05(1), the department shall issue to such person a license to transact business in the state, subject to cancellation of such license as provided by law.
(2) The license so issued by the department shall not be assignable except pursuant to s. 206.027, shall be valid only for the person in whose name it has been issued, and shall be displayed conspicuously in the principal place of business in the state.
(3) The department shall keep and file all applications and bonds with an alphabetical index thereof, together with a record of all duly licensed persons.
(4) An importer must first be licensed as a wholesaler prior to being licensed as an importer.