(a) A renewal of a registration certificate or license issued under this chapter is
valid for a period of two years. The license or registration renewal fee for each year of the two-year period is
payable on renewal.
(b) The commissioner by rule may adopt a system under which registration certificates
and licenses expire on various dates during the year. For the year in which an expiration date of a registration certificate or license
is less than one year from its issuance or anniversary date, the fee shall be prorated
on a monthly basis so that each holder of a registration certificate or license pays
only that portion of the renewal fee that is allocable to the number of months during
which the registration certificate or license is valid. The total renewal fee is payable on renewal on the new expiration date.
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