(1) GENERALLY. Except as provided under sub. (2), a license issued under this subchapter expires on the June 30 following the date on which the license was issued.
(2) CHANGE IN CONTROL OF LICENSEE. A change in the identity or number of individuals that are in control of a licensee terminates the licensee’s license under this subchapter, unless the licensee applies to the division for and receives a renewal of the license no later than 15 days after the change in control.