The Board may issue a retired status license to an individual who: is currently licensed in Maryland as a professional engineer; has been licensed as a professional engineer for at least 25 years, of which at least 5 years were in Maryland; is not the subject of a pending disciplinary action related to the practice of engineering in this or any other state; submits to the Board an application on the form approved by the Board; and pays to the Board a fee as set by the Board. The holder of a retired status license issued under this section may not engage in the practice of professional engineering. The holder of a retired status license shall be permitted to use the designation of “Professional Engineer, Retired”. The Board may reactivate the license of the holder of a retired status license if that individual: submits to the Board an application for reactivation on the form approved by the Board; meets all applicable continuing competency requirements determined by the Board; is not the subject of a pending disciplinary action related to the practice of engineering in this or any other state; and pays to the Board a reactivation fee as set by the Board.