(1) If the grantee of a ferry privilege does not, within six (6) months after the grant, put and keep the required boats and hands in use, the county judge/executive shall, after notice to him, revoke his grant.
(2) Any failure for one (1) year to keep up a ferry in the manner required, or any sale or lease of a ferry privilege made to, or contract not to use a ferry privilege made with, the owner, tenant or partner of a ferry established within one (1) mile thereof, or the owner, tenant or partner of a ferry established on the other side of the Ohio River or Mississippi River, shall be deemed an abandonment of the ferry privilege, and the county judge/executive shall, upon notice to the grantee, revoke his ferry privilege.