An amusement ride or structure must not be operated unless the owner or operator has obtained an operating permit and an operating permit decal is posted on the ride, unless a temporary operating permit has been issued as outlined in WAC 296-403A-140. The owner or operator of the amusement ride or structure must have available for inspection, at the location where the amusement ride or structure is to be operated, a copy of the operating permit for each amusement ride or structure. Each operating permit that has been issued to an owner or operator is valid for one year from the date of issue or the date of inspection whichever is less, unless revoked. The operating permit will become null and void in the event that the insurance policy is canceled or is no longer in effect or if an amusement ride or structure is materially rebuilt or materially modified.