Livewell plumbing

Hello all,
I have searched high and low to find an answer. I just purchased a 1982 Sea Nymph 162JB. This is my first boat, so please be easy with me .
I am trying to figure out how the live well in this thing is supposed to be plumbed in. There is a 3/4 NPT through hull fitting at the trans and another in the bottom of the livewell. I took the hose out while replacing the decks(had a crack in it). It has a spray bar in the LW that was connected to the hose. I am sure this is how I fill it(through hull at trans with pump). There is no overflow out the side. If I install a standpipe in the through hull at the bottom of the livewell, will it drain enough to recirculate the water? I plan to drift mostly in this boat.

Thank you in advance,
Chad

I've noticed on the early sea nymphs a lot of people go ahead and add a through the hull fitting on the side for the well to drain near the water level. I assume they have done this because the factory design wasn't very efficient.

Any other thoughts on this?