The Board shall reinstate the license of a physician who has failed to renew the license for any reason, is on inactive status under § 14–320 of this subtitle, or is on emeritus status under § 14–320.1 of this subtitle if the physician: Meets the renewal requirements of § 14–316 of this subtitle; Submits a reinstatement application on the form that the Board requires; Pays to the Board a reinstatement fee set by the Board; Submits to the Board satisfactory evidence of compliance with the qualifications and requirements established under this title for license reinstatements; and Meets any additional license reinstatement requirements established by the Board.