(1) The Board of Examiners in Speech-Language Pathology and Audiology shall prescribe and publish in a manner that it deems appropriate fees in amounts determined by the board for the following purposes: Application for initial license;
(2) Renewal of license;
(3) Late penalty per month;
(4) Inactivation; and
(5) Reactivation.
(6) The board may by rule provide for the waiver of all or part of the renewal fee if the license is issued less than one hundred twenty (120) days before the date on which it will expire.