1. (a) The Board shall issue a license to each person that it registers as a psychologist. The license shall show the full name of the psychologist and shall bear a serial number. The license shall be signed by the chairman and secretary of the Board under the seal of the Board.
2. (b) Licenses expire on the thirty-first day of December following their issuance or renewal and are invalid thereafter unless renewed.
3. (c) The Board shall notify every person licensed under this act of the date of expiration and the amount of the renewal fee. This notice shall be mailed at least one (1) month before the expiration of the license. Renewal may be made at any time during the months of November or December upon application therefor by payment of the renewal fee. Failure on the part of any person licensed to pay his renewal fee before the first day of January does not deprive him of his right to renew his license, but the fee to be paid for renewal after December shall be increased ten percent (10%) for each month or fraction thereof that the payment of the renewal fee is delayed. However, the maximum fee for delayed renewal shall not exceed twice the normal renewal fee. A psychologist who wishes to place his license upon an inactive status may do so upon application by payment of a fee of Twenty-five Dollars ($25.00); such a psychologist shall not accrue any penalty for late payment of the renewal fee.

Laws 1965, c. 347, § 18, emerg. eff. June 28, 1965; Laws 1974, c. 305, § 1, emerg. eff. May 29, 1974; Laws 1977, c. 65, § 2.