This section applies only to a license holder of a Class D beer and light wine license for use in the 46th alcoholic beverages district. A license holder who holds a valid Class D beer and light wine license may apply to the Board to convert the license to a Class D beer, wine, and liquor license if the license holder: maintains average daily receipts from the sale of food that are at least 51% of its total daily receipts; executes a memorandum of understanding with the relevant local neighborhood association as determined by the Board; operates a location with not more than 75 seats; and pays a special transfer fee of $15,000, in addition to any fees required under § 12–1704 of this title; or holds a license that was originally issued by the Board under § 12–1604(i) of this subtitle; and pays a special transfer fee of $15,000, in addition to any fees required under § 12–1704 of this title. If a Class D beer and light wine license is converted to a Class D beer, wine, and liquor license under paragraph (1) of this subsection, the Class D beer, wine, and liquor license: may not be transferred to a new location; and is subject to the requirements of paragraph (1) of this subsection. A holder of a license converted under this section may sell beer, wine, and liquor Monday through Sunday from 6 a.m. until 1 a.m. the following day. An application to convert a Class D beer and light wine license under subsection (b)(1) of this section is a transfer subject to the provisions of § 12–1701 of this title.