Subject to the limitations in this section and § 6–314 of this title, a master electrician who is licensed by the State Board and who assigns a local registration to a person who engages in the business of providing electrical services may change that assignment. To change an assignment of a local registration, an applicant shall: submit to the State Board an application on the form that the State Board provides; pay to the State Board a change of status fee set by the State Board; submit to the State Board proof of the change of status of the local registration; and return the State license to the State Board. On payment of the change of status fee, the State Board shall issue a new license to the applicant. The State Board shall give each local jurisdiction notice of any change in the status of a local registration obtained by the use of a State license that will affect the status of the State license.