Sec. 3. Upon receipt of an application containing the proper information and the prescribed fee, the department shall issue a license to the applicant. The license:
(1) except for a buyer's license under section 2(a)(3) of this chapter, expires June 30 after the date of issue;
(2) under section 2(a)(3) of this chapter, expires one (1) day after the date authorized on the license; and
(3) entitles the holder to purchase:
(A) furbearing mammals; or
(B) the untanned hides, skins, or furs of furbearing mammals.