(1) Each license may be renewed for the ensuing twelve (12) month period upon the timely submission of a completed renewal application and payment to the commissioner annually on or before December 31 of each year of the following fees:
(a) Five hundred dollars ($500) for the first location; and (b) Five hundred dollars ($500) for each additional location.
(2) The commissioner may reinstate a license that has expired within thirty-one (31) days of the expiration of the license if the licensee pays:
(a) A late fee of one hundred dollars ($100); and (b) A reinstatement fee of five hundred dollars ($500).
(3) A license shall not be reinstated when the renewal application, fees, or any required information is received after January 31 of the following year that the application was due.
(4) The commissioner may, by promulgation of an administrative regulation pursuant to KRS Chapter 13A, modify the dates for submissions under this section when necessary to:
(a) Implement uniform national licensing procedures; or (b) Facilitate common practices and procedures among the states.