(b) (1) At least 1 month before a license expires, the Board shall mail or electronically transmit to the licensee:

(i) a renewal application form; and

(ii) a notice that states:

1. the date on which the current license expires; and

2. the amount of the renewal fee.

(2) If an electronic transmission under paragraph (1) of this subsection is returned to the Board as undeliverable, the Board shall mail to the licensee, at the last known address of the licensee, the materials required under paragraph (1) of this subsection within 10 business days of the date the Board received the notice that the electronic transmission was undeliverable.

(c) Before a license expires, the licensee periodically may renew it for an additional 2-year term, if the licensee:

(1) otherwise is entitled to be licensed;

(2) pays to the Board a renewal fee of:

(i) $600 for an unlimited license;

(ii) $300 for a 40-foot-draft limited license;

(iii) $300 for a 36-foot-draft limited license; or

(iv) $200 for a 32-foot-draft limited license; and

(3) submits to the Board a renewal application on the form that the Board provides.

(d) The Board shall renew the license of a licensee who meets the requirements of this section.