In addition to the fees collected pursuant to section 49-1608C, Idaho Code, applicants for an initial motor vehicle dealer’s license shall maintain a license bond pursuant to section 49-1608, Idaho Code, for three (3) consecutive years. If the fee has been temporarily suspended pursuant to section 49-1608B(3), Idaho Code, the new dealer shall pay the last set fee into the fund during the initial three (3) year licensing period. Only those renewing licensees who have not been the subject of a claim against their bond or against the fund for three (3) consecutive years shall be exempt from the requirement to maintain such bond as required pursuant to the provisions of section 49-1608, Idaho Code.