Each pharmacy license expires on June thirtieth following the date of issue. To renew a pharmacy license, the pharmacist must submit a renewal application on or before June thirtieth on a form prescribed by the board, and pay the renewal fee set by the board in rules promulgated in accordance with chapter 1-26, but not exceeding two hundred dollars. If the renewal application and fee is submitted after the expiration of the license, the board must assess a fifty-dollar late fee and may reinstate the license.
If a majority ownership of the pharmacy changes, the new owners must, within thirty days after ownership change:
(1) Submit the renewal application, indicating the change of ownership; and
(2) Pay the renewal fee established by the board as provided in this section.