KRS 286.4-480: Duration of license -- Payment of annual fee -- Expiration --

Reinstatement.

(1) Each license shall remain in full force and effect until it is surrendered by the

licensee, suspended, revoked, or expired as provided in this subtitle. Each lic ensee

shall, on or before each December 31, pay to the commissioner the annual license

fee for the next succeeding calendar year.

(2) Failure of a licensee to pay the annual license fee required by this section shall

result in the expiration of the licensee's license on January 1 of the following year.

(3) The commissioner may reinstate an expired license if, within thirty-one (31) days of

expiration, the licensee:

(a) Satisfies all requirements set forth in this subtitle; and

(b) Pays a one hundred dollar ($100) late fee.

(4) Any reinstatement under subsection (3) of this section shall be retroactive to

January 1 of the calendar year in which it expired.