A license issued by the State Board of Physical Therapy, pursuant to this chapter, expires on January first of the second year following its issuance. A license may be renewed upon payment of a fee, in an amount established by the board, in rule pursuant to chapter 1-26, but not exceeding three hundred dollars.
Failure of a licensee to renew the license on or before July first of the second year following issuance constitutes a forfeiture of the license.