No person may be a livestock dealer without first obtaining an annual livestock dealer’s license from the Secretary. No person may operate a livestock market without first obtaining an annual livestock market license from the Secretary for each market he operates. An agent of a person who possesses a livestock dealer’s license is not required to obtain a livestock dealer’s license. A dealer who possesses a livestock market license is not required to obtain a dealer’s license if he sells livestock only at the licensed livestock market. Each license shall be issued upon payment of a $50 fee and shall be effective until June 30, following, unless revoked. The Secretary shall issue an identification card to each licensee and his agent who shall carry it on his person. The licensee or agent shall display the license at each place of business.