(a) If a license holder voluntarily surrenders the license before its expiration date, the Board shall grant a refund:
(1) based on the number of whole months remaining before the license expiration date; and
(2) calculated as 1/12 of 95% of the license fee paid for each whole month remaining before the license expiration date.
(b) A refund shall be paid not later than 3 weeks after the license is surrendered to the Board.
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