(1) The board is empowered to prescribe and publish reasonable fees for the following purposes:
(a) Application fee which is nonrefundable;
(b) Initial license fee;
(c) Renewal of license fee;
(d) Late renewal fee;
(e) Limited permit fee;
(f) Reinstatement of license fee;
(g) Inactive license fee.
(2) Such fees shall be commensurate to the extent feasible with the cost of fulfilling the duties of the board and council as defined by this chapter; however, no individual fee shall exceed One Hundred Fifty Dollars ($150.00).
(3) Any increase in the fees charged by the board under this section shall be in accordance with the provisions of Section 41-3-65.