The Board shall place a licensee on inactive status, if the licensee submits to the Board: An application for inactive status on the form required by the Board; and The inactive status fee set by the Board. The Board shall license an individual on inactive status who applies for a license if the individual: Complies with the renewal requirements that exist at the time the individual changes from inactive status to active status; and Meets the continuing education requirements set by the Board. The Board may not require payment of a late fee by an individual as a condition to licensing under this paragraph. The Board shall reinstate the license or registration of a psychologist or psychology associate who has failed to renew the license or registration for any reason if the psychologist or psychology associate: Meets the renewal requirements of § 18–309 of this subtitle; Pays to the Board a reinstatement fee set by the Board; and Applies to the Board for reinstatement of the license or registration within 5 years after the license or registration expires. The Board may not reinstate the license or registration of a psychologist or psychology associate who fails to apply for reinstatement of the license or registration within 5 years after the license or registration expires. A psychologist or psychology associate who fails to apply for reinstatement of the license or registration within 5 years after the license or registration expires may become licensed or registered by meeting the current requirements for obtaining a new license or registration under this title.