For every 4,000 individuals in an election district, the Board may not issue more than one license in each of the following classes: Class A (off–sale) beer license; Class A (off–sale) beer and wine license; and Class A (off–sale) beer, wine, and liquor license. The population of each election district is to be determined by the most recent federal census. Subject to paragraph (2) of this subsection, in an election district in which the number of licenses in a class that were issued as of June 1, 1949, exceeds the quota specified in subsection (a) of this section, the Board may not issue new licenses in that class. The Board may issue new licenses in a class when the number of licenses in that class falls below the quota specified in subsection (a) of this section. This section does not apply to the transfer or renewal of a license.