(1) Upon reaching the age of sixty-five (65), or any time thereafter, any person who has been a licensed master electrician licensed by the Board of Electrical Examiners of the State of Arkansas for not less than twelve (12) years may apply for a restricted lifetime master electrician license.
(2) This license shall be issued upon satisfactory proof of age and upon payment of a fee prescribed by the board.
(3) The board shall promulgate rules necessary to carry out the provisions of this section.