A registration expires 2 years from the date of issuance unless it is renewed as provided in this section. Before a registration expires, the registrant may renew it for an additional 2–year term, if the registrant: otherwise is entitled to be registered; files with the Commissioner a renewal application on the form that the Commissioner requires; pays to the Commissioner a renewal fee of $50; and except as provided in § 8–306(d) of this subtitle, files with the Commissioner evidence of a bond in compliance with § 8–306 of this subtitle. An application for renewal of a registration shall be considered made in a timely manner if it is postmarked on or before the date the registration expires. The Commissioner shall renew the registration of each registrant that meets the requirements of this section.