If a licensee defaults in payment of the annual fee, his license shall be revoked by the Board upon twenty (20) days notice given to the licensee at the time and place of considering such revocation. A certified letter addressed to the last-known address of the licensee failing to comply with the requirements shall be sufficient notice. Any license so revoked may be reinstated within five (5) years after the date of revocation upon payment to the Board of all unpaid fees plus penalties and upon furnishing satisfactory evidence to the Board of operative competence, continued good character and good standing with the applicable regulatory agency of any jurisdiction in which the applicant has engaged in the active practice of dentistry since the last payment of the annual fee to Guam. But no license shall be revoked for nonpayment if the licensee so notified pays, before or at the time of such consideration, the fee required and a delinquency fee.