An eligible organization shall submit an application to the Comptroller for an initial license or renewal license for each slot machine it proposes to operate. Each license application, whether initial or renewal, shall: Satisfy all requirements set forth in the application as provided by the Comptroller; Be signed by a principal officer of the organization applying for the license under penalty of perjury, as provided by Criminal Law Article, Title 9, Subtitle 1, Annotated Code of Maryland; and Include a license fee, the amount of which shall be determined by the Comptroller for the reporting year. An eligible organization may submit one application for licenses for up to five slot machines. A licensee shall promptly notify and amend the license application upon the principal officer’s separation from the licensed organization. The amended license application shall be signed by a principal officer of the organization under penalty of perjury, as provided by Criminal Law Article, Title 9, Subtitle 1, Annotated Code of Maryland. A license is renewed annually on or before June 30 of each year. The license renewal fee shall be determined by the Comptroller. A license is not transferrable. A licensee is subject to: The requirements of Criminal Law Article, §12-305(a), Annotated Code of Maryland; The operation requirements under Regulation .03 of this chapter; The annual report and record-keeping requirements under Regulation .04 of this chapter; and The inspection authority under Regulation .05 of this chapter. The Comptroller may suspend or revoke the license for each slot machine of a licensee if a licensee violates any regulation of this chapter.