(a) Time for issuance.--The department shall decide whether to issue a license to an applicant within 60 days of receiving the applicant's completed application. If the department needs longer than 60 days to make a decision, it may extend the time period for 30 days. The department shall notify the applicant of the extended time period, including a final decision date, in writing.

(b) Investigation.--Upon receipt of a completed application, the department may conduct an investigation of the applicant, including its owners, officers, directors, principals or agents in order to decide whether to issue the license.

(c) Appeal of denial.--If the department refuses to issue a license, it shall notify the applicant in writing that the license has been denied, including the reason for the denial and that the applicant has the right to appeal the denial to the secretary within 30 days.

(d) Duration.--A license shall be issued for a period of one year on a schedule determined by the department, provided that if a license is issued prior to the beginning of a licensing year, the license shall only be valid until the end of that licensing year, at which time it may be renewed subject to the provisions of this act. In the event that a license is denied, canceled, surrendered, revoked or suspended, no part of the license fee or license renewal fee is subject to rebate.

(e) Contents.--The license shall be on a form determined by the department and shall contain, at a minimum, the name of the licensee, the address at which the licensee is conducting business and a license number.

(f) Display.--The license shall be displayed prominently at the licensee's business locations.

(g) Transfer prohibited.--The license shall not be transferred, assigned or pledged.

(h) Conditional licenses.--The department may impose conditions on the issuance of any license under this act. If the department determines that conditions imposed upon a license have not been fulfilled, the department may take any action authorized under this act against the licensee that the department deems necessary. In the case of applicants, the department may issue licenses effective immediately upon receipt of an application, which licenses shall be conditional licenses issued under this subsection.