(2) When any such license expires or is revoked and a new license from the department has not yet been issued, or if the full amount of the bond required has not been filed and approved, then the warehouseman immediately shall:
(a) Remove the sign.
(b) Discontinue operation of the business as a public warehouse.
(c) Place and maintain for at least one year at the main entrance to the warehouse a sign of such dimensions and other specifications as prescribed by the department and having thereon the words, "This is Not a Licensed or Bonded Grain Warehouse." [Amended by 1955 c.731 §5; 1959 c.195 §3]