The Commission shall reinstate the certificate of a real estate appraiser who has failed to renew the certificate during the regular term of the certificate or the grace period, if the real estate appraiser: applies to the Commission for reinstatement within 3 years after the certificate expires; meets the requirements of § 16–511 of this subtitle; and in addition to the renewal fee required under § 16–511 of this subtitle, pays to the Commission a reinstatement fee set by the Commission. If an individual fails to renew a certificate for any reason and applies to the Commission for reinstatement more than 3 years after the certificate has expired, the Commission may: require the individual to reapply for a certificate under § 16–505 of this subtitle; or subject to paragraph (2) of this subsection, reinstate the certificate. The Commission may reinstate a certificate under paragraph (1)(ii) of this subsection only if the individual: meets the renewal requirements of § 16–511 of this subtitle; if required by the Commission, states the reasons why reinstatement should be granted; and in addition to the renewal fee required under § 16–511 of this subtitle, pays to the Commission a reinstatement fee set by the Commission.