R.I. Gen. Laws § 5-13-7: Terms of license.

A license issued under this chapter shall be the property of the state; shall be loaned to the licensee; and it must be kept posted, in a conspicuous place, upon the premises where the riding school is conducted. The license shall expire by limitation on the thirty-first day of May following its issuance. A license may be renewed from year to year upon payment of the prescribed fee. No license issued under this chapter is assignable or transferable.