(a)    (1)    Unless renewed under this section, a registration or registration certificate expires on the second anniversary of its effective date.

(2)    A registrant or registered sales representative that meets the requirements of subsection (c) of this section may obtain a renewal of a registration or registration certificate before the registration or registration certificate expires for an additional 2–year term.

(3)    Once expired, a registration or a registration certificate may not be renewed.

(b)    At least 60 days before a registration or registration certificate expires, the Unit shall mail the registrant or registered sales representative, at the last known address of the registrant or registered sales representative:

(1)    a renewal application form; and

(2)    a notice that states:

(i)    the date on which the current registration or registration certificate expires; and

(ii)    the date by which the Unit must receive the renewal application for a renewal to be issued and mailed before the registration or registration certificate expires.

(c)    The Unit shall renew the registration or registration certificate of each registrant or registered sales representative that:

(1)    submits to the Unit a renewal application on the form provided by the Unit;

(2)    would qualify for an initial registration or initial registration certificate;

(3)    (i)    for renewal of a registration, pays to the Division a nonrefundable renewal fee based on the number of building permits for the construction of new homes issued to the registrant in the preceding calendar year as follows:

1.    10 or fewer new homes..................................... $400;

2.    11 to 74 new homes....................................... $800; and

3.    75 or more new homes……………………. $1,200; or

(ii)    for renewal of a registration certificate, pays to the Division a nonrefundable renewal fee of $300; and

(4)    is otherwise entitled to be registered.