(1) Each original and renewal certificate, license, or registration issued under this chapter shall expire on the applicant's second birthday following issuance of the certificate, license, or registration.
(2) To be renewed as a state-certified or state-licensed real estate appraiser or state-registered appraiser trainee, the holder of a valid certificate, license, or registration shall apply and pay the prescribed fee to the director no earlier than one hundred twenty days prior to the expiration date of the certificate, license, or registration and shall demonstrate satisfaction of any continuing education requirements.
(3) If a person fails to renew a certificate, license, or registration prior to its expiration and no more than one year has passed since the person last held a valid certificate, license, or registration, the person may obtain a renewal certificate, license, or registration by satisfying all of the requirements for renewal and paying late renewal fees.
(4)(a) If a person's certificate , or license is not renewed within one year after the expiration date of the certificate or license, the director must place the certificate or license in inactive status.
(b) A state-licensed real estate appraiser, state-certified residential real estate appraiser, or state-certified general real estate appraiser whose certificate or license is placed in inactive status may, within eight years of placement in inactive status, apply for reinstatement of the certificate or license if he or she has:
(i) Maintained continuing education requirements while inactive;
(ii) Successfully completed the uniform standards of professional appraisal practice fifteen-hour class within one hundred eighty days before reinstatement; and
(iii) Paid a fee established by the director.
(c) A state-registered trainee real estate appraiser registration that has expired may not be reinstated. The trainee must reapply with the director for a new registration and pay a fee established by the director. Any required class hours, as provided in rule, taken to acquire the registration remains acceptable for a period of five years from the date class hours were taken and will not be required to be retaken, except that if the uniform standards class hours are more than two years from the date of the application for reinstatement, those class hours must be retaken.
(d) The director must cancel a license or certificate that is not renewed or reinstated within eight years of that license or certificate's expiration.