(1) A liquor warehousing license expires on December 31 of each year.
(2) To renew a liquor warehousing license, a person shall submit to the department by no later than November 30 of the year the license expires:
(a) a completed renewal application in a form prescribed by the department; and
(b) a renewal fee of $1,200.
(3) Failure to meet the renewal requirements results in an automatic forfeiture of the liquor warehousing license effective on the date the existing liquor warehousing license expires.