On receipt of an application for a transfer of a license, the Board shall: schedule a public hearing; and post a notice of the hearing in a conspicuous place on the exterior of the premises described in the application. The notice required under subsection (a) of this section shall: be on a sign measuring not less than 12 by 18 inches; specify the class of license subject to the application, name of the applicant, and time, date, and place of the hearing; and remain posted for at least 20 days before the hearing.