(a) Prior to the renewal or extension of a license, each licensee shall pay the fee required in section 431:7-101.
(b) A license for an adjuster or independent bill reviewer shall be inactivated if a licensee fails to pay any required fees or penalties.
An adjuster or independent bill reviewer who allows the adjuster's or independent bill reviewer's license to become inactive for nonpayment of the renewal fee may reinstate that license without the necessity of a written examination; provided that the adjuster or independent bill reviewer:
(1) Pays the fee and a penalty in the amount of double the then-unpaid fees within twelve months from the inactivation date; and
(2) Is in compliance with all the requirements of chapter 431.
(c) When the commissioner issues or extends a license, the commissioner shall:
(1) Determine the extension date, which is that date prior to which the license must be extended; and
(2) Notify the licensee in writing of the extension date.
The extension date shall be any date not less than one year and not more than three years after the date of the issue or the last extension of the license.