Each person licensed by the Board shall pay an annual fee as determined by regulation of the Board. The fee is due and payable on the first day of January of each year. Failure to pay the annual fee on or before the first day of February of each year shall render the license void. Upon a showing of a reasonable explanation and payment of all sums due, the veterinarian may petition for reinstatement. The Board may assess a reinstatement fee as may be set by regulation.

The Board may also issue a duplicate license to replace one that has been lost or destroyed upon payment of a fee set by regulation of the Board. Each duplicate license shall have the word 'Duplicate' typed or printed across the face thereof.