I. Licenses issued under this chapter shall be subject to renewal, and shall lapse unless renewed or reinstated in accordance with rules adopted by the executive director under RSA 328-H:5.
II. All licenses issued pursuant to this chapter shall be renewed biennially on or before June 30 upon approval by the executive director of the renewal application and submission of the required renewal fee.
III. Licenses shall continue as valid until final action is exercised by the executive director on an application for renewal, provided that the application is filed before the expiration date of the license.