(1) Licenses must be renewed every three (3) years on or before the anniversary date of issue or renewal. Credential holders shall pay to the board a renewal fee not to exceed one hundred dollars ($100) and shall receive a renewal license. The board shall cancel a license not renewed within three (3) months of the renewal date, but the board may reinstate any canceled license upon payment of the renewal fee and a penalty not to exceed the amount of the renewal fee within three (3) years after cancellation. A credential holder whose license has been canceled shall not practice psychology until the license has been restored.
(2) Any credential holder who has failed to renew his or her license or has been inactive for three (3) or more years may renew his or her license only upon passing an examination procedure and paying the renewal and penalty fees.
(3) Upon petition to the board, credential holders may be granted inactive status for a period of time not to exceed three (3) consecutive years. Credential holders shall not practice psychology while under inactive status and certified psychologists and licensed psychological associates need not be supervised by a licensed psychologist. Inactive credential holders may apply for active licenses as provided for by regulation of the board.