The Commission shall reinstate the license of a real estate appraiser who has failed to renew the license, if the real estate appraiser:
(1) applies to the Commission for reinstatement within 2 years after the license expires;
(2) meets the requirements of § 16–308 of this subtitle; and
(3) in addition to the renewal fee required under § 16–308 of this subtitle, pays to the Commission a reinstatement fee set by the Commission.
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