Security patrol licenses and employee permits issued under this chapter create no vested rights, are not transferable and may be revoked or suspended for cause under the terms of this chapter at any time. Licenses and employee permits shall be issued on a calendar year basis to expire on December 31st of the year for which issued – provided, however, that if the initial license or employee permit is issued on or after November 1st, it shall be valid for the remainder of the current year and for the next following calendar year.