(a) The Commission shall reinstate the license of a real estate appraiser who has failed to renew the license, if the real estate appraiser:

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

(2) meets the requirements of § 16-308 of this subtitle; and

(3) in addition to the renewal fee required under § 16-308 of this subtitle, pays to the Commission a reinstatement fee set by the Commission.

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

(i) require the individual to reapply for a license under § 16-302 of this subtitle; or

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

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

(i) meets the renewal requirements of § 16-308 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 § 16-308 of this subtitle, pays to the Commission a reinstatement fee set by the Commission.