(a) A forfeited registration may be restored by submitting an application provided by the director and by paying a delinquent renewal fee and a restoration fee in the amount specified by rule.
(b) Failure to restore a forfeited registration within sixty days of forfeiture shall cause the registration to be terminated.
(c) The director may extend the sixty-day limitation for good cause shown.
(d) Upon termination of registration, the collection agency shall cease to do business.