In the event that an applicant or licensee shall submit to the Arkansas Real Estate Commission any funds that are in excess of the funds required by the commission pursuant to this part or state law, the commission shall refund such overpayment according to the following schedule:

1. (1) If the overpayment is at least one cent ($0.01), and not more than ten dollars ($10.00), no refund shall be made; and
2. (2) If the overpayment shall exceed ten dollars ($10.00), the commission shall first deduct ten dollars ($10.00) for processing the refund check, and shall refund the remainder of the overpayment.