An applicant meeting the qualifications of the Business Occupations and Professions Article, §11-303, Annotated Code of Maryland, shall complete an application form approved by the Board. In addition to the application form, an applicant shall submit: A transcript from the applicant's postsecondary education institution, if applicable; A copy of the applicant's valid United States Coast Guard license; The applicant's maritime employment history; and An application fee of $25. If an applicant fails to comply with these regulations, the applicant may not be eligible for selection as a pilot-in-training. The Board shall maintain a list of qualified applicants from which candidates shall be selected when the Board determines that apprentice pilots are required under Regulation .01 of this chapter. To compile the list of qualified applicants, the Board: Shall review the applications of all eligible applicants; May conduct personal interviews of eligible applicants that it considers necessary and under the circumstances that it may direct; and Shall rank them in the order in which they would be selected if the need for pilots-in-training arises. Selection from the List. If the Board determines that pilots-in-training are required under Regulation .01 of this chapter, the Board shall select them beginning with the top ranked on the existing list. If the list is older than 1 year, the Board may require qualified applicants to update relevant information before the selection process. Maintenance of the List. Unless the Board determines that the list should be extended for 1 additional year, the list of qualified applicants shall be maintained for a period of 2 years from the date it is compiled by the Board. Before the expiration of the list, a new list shall be prepared based on new applications. All existing applications must be renewed to be considered for the subsequent list. A list of qualified applicants compiled before October 1, 2004, shall be maintained for 1 year. An applicant selected under §F of this regulation shall pass an additional physical examination, as required by the Board, before the applicant may be appointed a pilot-in-training.