(a) The board shall issue a license to engage in the practice of public accounting to an individual who meets the requirements of AS 08.04.110 — 08.04.130. The license is valid for the remainder of the biennial licensing period during which the initial license was granted.
(b) The board may renew a license granted under this section if the licensee (1) maintains all of the licensee's offices as required by AS 08.04.360 and 08.04.370;
(2) complies with the continuing education requirements of AS 08.04.425 and the peer review requirements of AS 08.04.426; and
(3) complies with the requirements of this chapter.