The board shall reinstate a certification which has lapsed as a result of failure of the applicant to qualify for renewal or to submit the renewal application on time if the applicant:
I. Meets eligibility requirements for renewal.

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II. Meets any reinstatement requirements established by the board in rules adopted pursuant to RSA 541-A.
III. Complies with any reinstatement application procedures established by the office of professional licensure and certification in rules adopted pursuant to RSA 541-A.
IV. Pays the reinstatement fee established by the office of professional licensure and certification.