Instead of issuing individual event licenses, the Board may issue a multiple event license for a particular class of license. The number of days for which a multiple event license may be used by a single applicant may not exceed 40 per calendar year. A multiple event license shall be issued: for one premises only; and except as provided in paragraph (2) of this subsection, to the same applicant for all events for which the license is issued. The Board may: approve in writing a substitute applicant; and before approving a substitute applicant, hold a hearing. A server who is certified as having completed an alcohol awareness program shall be on the premises for which a multiple event license is issued when alcoholic beverages are served. The holder of a multiple event license under this section may store alcoholic beverages on the licensed premises between individual licensed events if the alcoholic beverages: are in a specially identified locked and secured location; and are not sold or consumed except during licensed event hours for licensed event purposes. The license holder shall keep complete and accurate records of all alcoholic beverages purchased and sold on the licensed premises. The records shall be: maintained on the licensed premises for 2 years; and available for inspection by authorized personnel of the Comptroller, the Executive Director, and the Board. The records shall include a completed pre– and post–inventory of all alcoholic beverages for each individual event. Authorized personnel of the Comptroller, the Executive Director, and the Board may inspect the premises of the license holder as provided under § 6–202 of this article. A license holder who violates this subsection is subject to: for the first offense, a fine of $100; and for a subsequent offense, a fine not exceeding $500 and denial of future requests for a license for an individual event or a special multiple event license. The fee for a multiple event license is: $250 for not more than 10 events per year; $500 for not more than 20 events per year; $750 for not more than 30 events per year; and $1,000 for not more than 40 events per year. The Board may not issue a refund if the license holder holds fewer events during the calendar year than the number of events that the license holder is entitled to hold.