(a) Every registered osteopathic physician shall annually pay a renewal fee as set by the board; provided, that satisfactory evidence is presented to the board that such licensee in the year preceding the application for renewal successfully completed the required number of hours in courses, programs, internships or residencies as established and approved by the board through rules and regulations promulgated in accordance with the Uniform Administrative Procedures Act, as compiled in title 4, chapter 5.

(b) Each person having a certificate of registration or license shall be notified prior to the due date of the renewal fee.

(c)

(1) When any licensed osteopathic physician shall fail to register and pay the annual registration fee within sixty (60) days after registration becomes due as provided in this section, the license of such person shall be automatically revoked at the expiration of the sixty (60) days after the registration was required, without further notice or hearing.

(2) Any person whose license is automatically revoked as provided in this chapter may make application in writing to the board for the reinstatement of such license and, upon good cause being shown, the board, in its discretion, may reinstate such license upon payment of all past-due renewal fees and upon further payment of a sum to be set by the board.

(d) Any person licensed to practice by this chapter who has retired or may hereafter retire from such practice in this state shall not be made to register as required by this chapter if such person shall file with this board an affidavit on a form to be furnished by the board, which affidavit shall state the date on which such person retired from such practice and such other facts as shall tend to verify such retirement as the board shall deem necessary. If such person thereafter reengages in such practice in this state, such person shall apply for registration with the board as provided by this chapter and shall meet other requirements as may be set by the board.

(e)

(1) Notwithstanding any provision of this chapter to the contrary, the division, with the approval of the commissioner, shall establish a system of license renewals at alternative intervals that will allow for the distribution of the license workload as uniformly as is practicable throughout the calendar year. Licenses issued under the alternative method are valid for twenty-four (24) months, and shall expire on the last day of the last month of the license period. However, during a transition period, or at any time thereafter when the board shall determine that the volume of work for any given interval is unduly burdensome or costly, either the licenses or renewals, or both of them, may be issued for terms of not less than six (6) months nor more than eighteen (18) months. The fee imposed for any license under the alternative interval method for a period of other than twenty-four (24) months shall be proportionate to the annual fee and modified in no other manner, except that the proportional fee shall be rounded off to the nearest quarter of a dollar (25¢).

(2) No renewal application will be accepted after the last day of the month following the license expiration date under the alternative method authorized in this subsection (e).