If a licensee who has passed the examination for licensure as a funeral director required under this part and who has not been subject to disciplinary action by the board allows his or her license to lapse for a period of not more than ten years, the board shall reinstate such funeral director’s license upon such applicant for reinstatement:
(1) Paying the total amount of all renewal fees for the period during which the license was lapsed, plus a reinstatement fee not to exceed the amount of the biennial renewal fee; and
(2) Successfully completing continuing education hours as the board may require under Code Section 43-18-56, unless such continuing education hours would be waived under subsection (c) of Code Section 43-18-56, if such applicant for reinstatement had not let the license lapse.