Unless renewed under this section, a registration or registration certificate expires on the second anniversary of its effective date. A registrant or registered sales representative that meets the requirements of subsection (c) of this section may obtain a renewal of a registration or registration certificate before the registration or registration certificate expires for an additional 2–year term. Once expired, a registration or a registration certificate may not be renewed. At least 60 days before a registration or registration certificate expires, the Unit shall mail the registrant or registered sales representative, at the last known address of the registrant or registered sales representative: a renewal application form; and a notice that states: the date on which the current registration or registration certificate expires; and the date by which the Unit must receive the renewal application for a renewal to be issued and mailed before the registration or registration certificate expires. The Unit shall renew the registration or registration certificate of each registrant or registered sales representative that: submits to the Unit a renewal application on the form provided by the Unit; would qualify for an initial registration or initial registration certificate; for renewal of a registration, pays to the Division a nonrefundable renewal fee based on the number of building permits for the construction of new homes issued to the registrant in the preceding calendar year as follows: 10 or fewer new homes..................................... $400; 11 to 74 new homes....................................... $800; and 75 or more new homes……………………. $1,200; or for renewal of a registration certificate, pays to the Division a nonrefundable renewal fee of $300; and is otherwise entitled to be registered.