(a) Except as provided in subsection (b) of this section, the Board may not issue a license to a corporation or limited liability company unless the individual qualifying under this article:
(1) is a registered voter, taxpayer, and resident of the county at the time of submission of the application; and
(2) owns at least 20% of the total issued capital stock of the corporation or 20% of the total interests of the limited liability company.
(b) This section does not affect a license that has already been issued.