(1) No licensee shall advertise any malt beverage by trade name, trade-mark or in any other manner within one hundred (100) feet of the property line of any school or church. The distance shall be by straight line.
(2) Subsection (1) shall not apply to advertisements placed on the establishment of brewers or distributors in operation prior to March 7, 1938, nor to signs in position on March 7, 1938, nor to signs located in urban-county governments, cities of the first class, or cities containing a population equal to or greater than twenty thousand (20,000) based upon the most recent federal decennial census.