1. Except as otherwise provided in subsection 2, no more than one license of each class may be issued to any one person during each licensing period.
2. The Commission shall adopt regulations providing for the issuance of a duplicate license to replace an unexpired license that has been lost, stolen or destroyed. The regulations must specify a fee, which must not exceed $10, for the issuance of a duplicate license. A duplicate license has the same effect, and is subject to the same conditions and restrictions, as the license it replaces.