At least thirty days prior to the expiration of any security patrol license or employee permit – and upon any change in the officers, managing employees, principal stockholders or partners of a corporate or partnership licensee – the holder of such license or permit shall apply to the Chief of Police for renewal thereof. The application for renewal shall contain the same information as is required for an initial application or, in the alternative, a statement of the particulars in which the information furnished within the original application has changed. Upon such investigation as the Chief of Police deems proper, the license or permit shall be renewed if it is found that the applicant for renewal remains qualified as in the case of an original application.