A certificate of qualification expires on the first June 30 after its effective date unless it is renewed as provided in this section. Before a certificate of qualification expires, the holder of the certificate of qualification may renew it for an additional 1-year term, if the holder: otherwise is entitled to a certificate of qualification; and pays to the Commissioner the renewal fee required by § 2-112 of this article. The Commissioner shall renew the certificate of qualification of each holder who meets the requirements of this section.