(a) The duly constituted licensing authorities of any city, town or political subdivision of this state may grant licenses in forms prescribed by the secretary of state, effective for not more than one year from date of issue, permitting the licensee to sell pistols at retail within this state subject to the following conditions, for breach of any of which the license shall be forfeited and the licensee subject to punishment as provided in this division. The business shall be carried on only in the building designated in the license. The license or a copy thereof, certified by the issuing authority, shall be displayed on the premises where it can easily be read. The fee for issuing the license shall be $.50, which fee shall be paid into the State Treasury.
(b) All records of pistol, revolver, or maxim silencer sales that are maintained or in the custody of dealers, the chief of police, the sheriff, or the Secretary of State pursuant to this section or Section 40-12-143, including any records or databases compiled as a result of or based on the records or information so maintained or received, shall be permanently removed and destroyed without reproduction of the removed documents no later than February 28, 2016. This section does not apply to any record necessary for an active investigation or ongoing prosecution.