1. A school license issued by the board expires annually on December thirty-first. If the application for renewal is not received on or before the expiration date, the license expires.
2. The board may renew a license if:
a. An application for renewal is submitted as provided by the board;
b. The renewal fee is paid; and c. Grounds for denial do not exist under section 43-11-31.
3. A school license not renewed within thirty days of expiration may be cause for disciplinary action.