(1) All registration cards or renewals of registration cards shall expire two (2) years from date of issuance.
(2) The commissioner shall establish the fees in reasonable amounts for the timely renewal of armed or unarmed registration cards.
(3) Registrations may be renewed up to three (3) months after their expiration by payment of the renewal fee plus a penalty established by the commissioner for each month or portion of a month that elapses before payment is tendered.
(4) Every armed security guard/officer shall as a prerequisite for the renewal of the person's registration card: Complete four (4) hours of refresher training administered by a certified trainer in the subjects listed in § 62-35-118(b)(1); and
(5) Requalify in the use of a firearm by achieving a minimum of seventy percent (70%) on any silhouette target course approved by the commissioner.