The board may reinstate the license of a person who fails to renew the license by the end of the thirty-day grace period if: (1) The person submits an application for reinstatement to the board within twenty-four months after the expiration date of the license; (2) The person meets the requirements established by the board as conditions for license renewal; and (3) The person pays to the board a reinstatement fee that equals the renewal fee in effect on the last regular renewal date immediately preceding the date of reinstatement, plus any late fee, not to exceed one hundred dollars, set by the board by rule promulgated pursuant to chapter 1-26 . The board may not reinstate the license of a person who fails to renew the license within twenty-four months from the expiration date. The person may apply for and obtain a new license in accordance with the requirements of this chapter.
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