(1) On or before December 31 of each year, each licensee shall pay to the director a nonrefundable license renewal fee of one hundred dollars ($100) and shall file, through an electronic system of licensing as prescribed by the director, a license renewal providing complete information as required by the director.
(2)  Failure to fully comply with the license renewal requirements of this section by December 31 of each year shall result in automatic expiration of the license as of that date.
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(3)  The director may reinstate an expired license within sixty (60) days immediately following license expiration if the director finds that the applicant meets the requirements for licensure under this chapter and after submission to the director of:
(a)  A complete application for renewal;
(b)  The fee required to apply for license renewal, unless previously paid; and
(c)  A reinstatement fee of fifty dollars ($50.00).