Unless renewed by a licensee, a license expires on the date set by the Board. Before a license expires, the licensee periodically may renew the license for an additional term, if the licensee: otherwise is entitled to be licensed; pays to the Board the license fee set by the Board; and submits to the Board a renewal application on the form that the Board provides. The Board shall renew the license of each licensee who meets the requirements of this section. The Board may adopt regulations to require a licensee to demonstrate continuing professional competency as a condition of renewal.