The board shall reinstate a license which has lapsed as a result of failure of the applicant to qualify for renewal or to submit a completed renewal application on time if the applicant:

1. I. Meets eligibility requirements for renewal.
2. II. Meets the reinstatement requirements established by the board in rules adopted pursuant to RSA 541-A.
3. III. Pays the registration fee, late fee, and reinstatement fee.

Source. 2007, 49:3, eff. July 1, 2007.