(a) The board by rule may establish procedures under which a person may obtain an extension of time to complete continuing education required to renew the person's certificate or license.
(b) The board may require a person under this section to:
(1) pay an additional fee, not to exceed $200, on or before the date the certificate or license is scheduled to expire; and
(2) complete the required continuing education not later than the 60th day after the date the certificate or license is scheduled to expire.
(c) Notwithstanding the other provisions of this section, a person must complete the required continuing education before performing an appraisal in a federally related transaction.