(a) The Commission shall reinstate the certificate of a real estate appraiser who has failed to renew the certificate during the regular term of the certificate or the grace period, if the real estate appraiser:

(1) applies to the Commission for reinstatement within 3 years after the certificate expires;

(2) meets the requirements of § 16-511 of this subtitle; and

(3) in addition to the renewal fee required under § 16-511 of this subtitle, pays to the Commission a reinstatement fee set by the Commission.

(b) (1) If an individual fails to renew a certificate for any reason and applies to the Commission for reinstatement more than 3 years after the certificate has expired, the Commission may:

(i) require the individual to reapply for a certificate under § 16-505 of this subtitle; or

(ii) subject to paragraph (2) of this subsection, reinstate the certificate.

(2) The Commission may reinstate a certificate under paragraph (1)(ii) of this subsection only if the individual:

(i) meets the renewal requirements of § 16-511 of this subtitle;

(ii) if required by the Commission, states the reasons why reinstatement should be granted; and

(iii) in addition to the renewal fee required under § 16-511 of this subtitle, pays to the Commission a reinstatement fee set by the Commission.