(a) Upon approval by the Division, it shall issue an internship license to a trainee provided he applies for such license and pays the required fee within ten days prior to the commencement of his internship. The application shall contain such information as may be required by the Division.
(b) An internship license shall be valid for the term of twelve months from the date of issue. Such license may be extended or renewed for any term not to exceed six months upon good cause shown to the Division.
(c) A trainee shall not be entitled to hold an internship license after the expiration of the original twelve-month period and a six-month extension until twelve months after the date of expiration of the last internship license held by such trainee.